Credible economists do not refute annual trade deficits detrimental effects upon their nation's GDP.
To the extent that USA products were “crowded out” of marketplaces by foreign goods, effectively due to USA's chronic annual trade deficits, our nation's GDPs were less than otherwise.
A...
Warren Buffett?s concept to significantly reduce USA?s trade deficit
I?m a proponent of a proposal that was introduced to the Senate in 2006. Trade deficits are always detrimental to a nation?s GDP. Trade deficit?s detriment to the GDP exceeds the amount of the deficit itself. The GDP...