Discussion leader: John Bartlett
This is a basic, sensible introduction to trade deficits from the Peterson Institute.
Is the US Trade Deficit a Problem?
“The Education of David Stockman” is a classic on how the Federal Budget is actually constructed. It was published in the Atlantic in 1981 and was expanded into his book, “Triumph of Politics.” It isn’t pretty. Recall that Stockman was Reagan’s first term budget director. No one, including Reagan, comes off well. This article was off the record – until it wasn’t. It lead to Stockman’s famous trip to the woodshed. (Full disclosure – I worked for David for 6 years. Gary)