America's trade deficit is a bad thing, right?



Nope.

In Daniel T. Griswold's (no relation to Clarke W., I trust) article, America's Maligned and Misunderstood Trade Deficit he outlines a fairly comprehensive picture of the causes of trade deficits.

I should mention that it only seems "comprehensive" to me... I know next to nothing.

Clarke - I mean, Daniel, is associate director of the Cato Institute's Center for Trade Policy Studies. Apparently, that makes him a fairly reasonable source for information on trade deficits. At least, I think so.

A very interesting read - if you're interested in such things.