Another reason to cut the deficit
Joseph Stiglitz, winner of the Nobel Prize in Economics, points out the impossibility of the IMF achieving its latest mandate, stabilizing the global trade balance, without a lowering of the US fiscal deficit. Our trade deficit is the largest in the world by far and is the primary cause of the imbalance in global trade. His prescription for cutting the deficit is higher taxes for the wealthy and lower military costs.
1 comment:
Stiglitz has that right!!!
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