@David ******
Trade deficits and fiscal or federal deficits are distinct concepts that aren't directly related. A trade deficit occurs when a country imports more goods and services than it exports, which can be a normal and healthy aspect of a global economy. This imbalance can be a sign of a country's wealth and capital abundance, allowing it to purchase more goods and services from abroad.
It's essential to understand that trade doesn't have to be equal, but rather fair. The wealth and resources of countries vary significantly, influencing their trade balances. The notion that trade deficits are equivalent to federal deficits is a misconception. The national deficit, federal deficit, and federal debt are more critical concerns, as they impact the overall economy.
The issue of billionaires not paying their fair share of taxes has been a persistent problem since the Reagan era, contributing to the national debt and placing a greater burden on the lower and middle class. This topic warrants careful consideration and discussion.