Global trade

Will a Smaller Fiscal Deficit Cause the Trade Deficit to Decline or Unemployment to Rise?

43
May 22, 2017

In a recent much-remarked-upon and very short op-ed, George P. Shultz and Martin Feldstein argue that the only way, or at least the best way, to cut the U.S. trade deficit is for Washington to cut the U.S. fiscal deficit. It is at least as likely, however, that cutting the fiscal deficit will simply increase debt or increase unemployment.

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