In the article, Buffet describes the U.S. trade deficit this way: "In effect, our country has been behaving like an extraordinarily rich family that possesses an immense farm. In order to consume 4% more than we produce--that's the trade deficit--we have, day by day, been both selling pieces of the farm and increasing the mortgage on what we still own." Given this scenario, America can return to the status of a colony, thereby losing its independence.
More U.S. resources, in terms of the amount of treasury and the duration of time, have been expended over the last decade in the name of defending freedom than was expended during World War II. In our interconnected world, there is a direct connection between the trillions of dollars of accumulated trade deficits since 9/11 and the federal budget deficits arising from the Afghanistan and Iraq wars, the tax-cuts, unfunded Medicare prescription drug plan and the post-financial melt-down bail-out/stimulus costs. The direct connection is that dollars were transferred to foreigners, via the trade deficits, to fund the war, tax-cuts etc. What is not mentioned by our public officials is that all these dollars in the hands of other governments, via the trade deficit has enabled foreigners to gain significant control over the U.S. economy.
Most of our freedoms as American citizens are dependent on the United States remaining independent. Many U.S. multinational corporations boost that the majority of their income comes from outside the U.S., yet the Supreme Court of the United States has given them the power to spend unlimited amounts of money to sway U.S. voters to complacently stand by and let America continue to lose its independence.
Trade deficits are weapons of economic destruction, enabling al-Qaeda to achieve its central goal of: "bleeding America to the point of bankruptcy". A balanced trade model is a sustainable alternative to the laundry-list of free trade agreements, which have vastly increased our trade deficits. Concerned voters can just tune-out and totally ignore the free trade agreement propaganda that is eroding America's independence and vote for candidates that support balanced trade. What could be more fair to all Americans, than balanced trade? It's the only alternative for sustaining our independence as Americans!
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