A strategy to reduce trade deficit (Sen. Sherrod Brown & Sen. Byron Dorgan)
The Hill – From 2002 to 2008, the U.S. trade deficit nearly doubled from $468 billion to $816 billion. While the lopsided imbalance of trade temporarily closed during a short period during the deepest part of the recession, the trade deficit has once again resumed widening.
When we run a trade deficit, we ship jobs overseas. It’s as simple as that. Continuing to ignore our trade deficit, as it once again starts to rise, is irresponsible and unsustainable. We must, at the very least, get a group in place to recommend what we must do to get our fiscal house in order.
