Quote:
Originally posted by Joe Sixpack@Jun 6 2004, 02:36 AM
Ronald Reagan's economic legacy:
Trade deficit Current Account Deficit
Year ($ Billions) ($ Billions)
1981 -34.6 +8.2
1982 -38.4 -7.0
1983 -64.2 -44.3
1984 -122.4 -104.2
1985 -133.6 -112.7
1986 -155.5 -133.2
1987 -170.3 -143.7
1988 -137.1 -126.5
This is what happens when you cut taxes and increase defense spending.
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Joe, explain what a trade deficit is, and why you think it's important.