Paul S. Sarbanes: “This deficit requires us Americans to borrow about $2 billion from foreigners every working day. No expert I know…”

put us on the glide path to dissipate this hard-earned fiscal restraint.

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

Yes. Now, they have it pegged, right?

I mean, something's wrong with the set of policies we're pursuing, it seems to me, if we're going to have the kind of erosion in the trade balance that we have seen.