Paul S. Sarbanes: “It is difficult for me to understand why you cannot state very simply that one way of addressing the budget deficit is…”

In Maryland there would actually be a $2.73 billion loss in property values related to the wealth of Maryland residents.

He reflects something that is important to us.

This deficit requires us Americans to borrow about $2 billion from foreigners every working day. No expert I know believes that this is sustainable.

I think the best way to do it is to have a flexible exchange rate, and that will let the market work even more.