Whee. Are we heading down the road to "fucked"?
PostPosted:Mon Jun 20, 2005 1:12 am
by Nev
PostPosted:Mon Jun 20, 2005 3:07 am
by SineSwiper
I know that governmential budget and economic value aren't exactly the same thing, but I know this has got to be linked to the massive national debt we've collected. What's your opinion, Zeus?
PostPosted:Mon Jun 20, 2005 1:19 pm
by Nev
noooooo....trade deficit has nothing to do with national debt, at least directly.
national debt is how much money we owe other people. with a trade deficit, the money has already changed hands - it's the difference between how much we paid for imports this year and how much we sold in exports. to the best of my knowledge, it's actually in cold hard currency (well, as cold and hard as electronic bank accounts get, anyway), as opposed to the national debt, in which the u.s. gov't OWES people currency but has not yet paid them.
i sort of wonder whether they're very indirectly linked through dubble bubble's lack of financial responsibility, but that's not quite the same thing, and it's complete speculation on my part anyway.