Warren Buffett on trade deficits

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Warren Buffett on trade deficits
This is old, but still true

The successful American business man and investor Warren Buffett was quoted in the Associated Press (January 20, 2006) as saying "The U.S trade deficit is a bigger threat to the domestic economy than either the federal budget deficit or consumer debt and could lead to political turmoil... Right now, the rest of the world owns $3 trillion more of us than we own of them."

And yet, here we sit, sending Billions a month overseas.  Yes Billions.  WHY!