For the GOP to redeem itself it’s going to take people coming forth with revolutionary ideals - not more of the same stuff we have been seeing for the past 20 years or so.
The article says that we are increasingly having to rely on China and oil exporters to bail us out. The national debt problem would never have gotten to where it is without our trade imbalance.
/facepalm
The article says many things.
The question is: are they true?
The national debt problem would never have gotten to where it is without our trade imbalance
Really? So it is impossible for a country with a positive trade imbalance to borrow money?
Or, alternatively, it is impossible for a country with a negative trade imbalance to delever?
Here's a hint: our trade imbalance is currently $61 billion. Our total economy is $13.5 trillion.
In other words, our trade imbalance is 0.4% of our economy.
Bail us out of what? The Japanese have had large trade surpluses for 20 years now yet their economy has been sucking wind for the past 18 years. How do you explain that away given they have a strong currency?
In 1989 they were eating shaved gold on their sushi and plotting to dominate the world's economy. Today they still can't get their economy going while 40 year old professionals have to live with their parents because they can't afford a home. Is that the kind of economy you think we should emulate?