Sorry, I don't follow you. Chronic, continual, large trade deficits must be paid for in some way.
When I buy stuff, I pay cash. So why does my purchase of Japanese electronics or Swiss chocolate, both of which increase our trade deficits, have to be financed again?
Ok, read my post 31. Your purchase of Japanese electronics with US cash dollars is already financed by US cash dollars. You are trading bits of paper for real goods. As long as the producers of the real goods will accept your fiat money, everybody is happy.