On the recordJuly 20, 2004
This deficit requires us Americans to borrow about $2 billion from foreigners every working day. No expert I know believes that this is sustainable.
Said by
Paul S. Sarbanes
This deficit requires us Americans to borrow about $2 billion from foreigners every working day. No expert I know believes that this is sustainable.
Discussing the unsustainable nature of the current account deficit.
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More from Paul S. Sarbanes
I think the best way to do it is to have a flexible exchange rate, and that will let the market work even more.
I find this troubling. I guess I find any chart that all of a sudden seems to leap out in some different direction from what we have generally been experiencing a matter of concern.
This was a decision by the Bank of Japan, the Government, not by private Japanese investors about the strength of the American economy.