Political Quotes

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

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
Source
congress.gov
Jul 20, 2004

Editor's note · Context

Discussing the unsustainable nature of the current account deficit.

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More from Paul S. Sarbanes

Feb 11, 2013

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

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May 19, 2004

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

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May 19, 2004

Yes. Now, they have it pegged, right?

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Jan 18, 2005

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.

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