@clacke Many nations are running trade deficits, even nations that don't control the world's reserve currency. The currency thing is more involved with the government's budget deficit than with the trade deficit.

I've long been in favor of raising taxes (especially on the wealthy [high level of assets but not necessarily high current income] & high income) as part of ending the budget deficit and repaying the national debt. IMO, those currently under 30 and their kids are going to be stuck paying all those funds back.

The trade deficit is partly caused by shifting production to countries without costly environmental protections that also have low labor costs. As those advantages evaporate, certain countries that have been booming for the past few decades will find themselves struggling.