External Deficit of the U.S.
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This research examines the external deficit of the United States (US). The world's press provides a continuing stream of reports relative to the external debt of developing countries. Little has been reported, however, on (1) the emergence of the US as a debtor nation in 1985 (Rubenstein, 1988, p. 14), (2) the growth of the external deficit of the US in 1986 to the point where the US had (and continues to have) the largest external deficit of any country (Nussbaum, 1987, pp. 160-161, 163), and (3) the potential for the US external deficit to either equal or exceed that of all other countries combined by some point in the early 1990s (Nasar, 1988, pp. 77-79). The findings of this research are presented in three separate discussions. In the first of these discussions, the problem is identified, and its character is defined. The second discussion considers the origins and development of the problem. Lastly, the third discussion considers the resolution of the problem. THE PROBLEM: IDENTIFICATION & CHARACTER An external deficit develops for a country when the claims of foreign entities on the country's economy exceed the claims of that country on the economies of other countries. As recently as 1984, the US was a creditor nation, with claims against foreign economies (US$896.1 billion) just exceeding foreign claims on the American economy (US$892.6 billion) (International Monetary Fund [IMF] "International", 1989, p. 410). In 1985, the US s
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1980 221 245 24 130 74 56 32
1981 234 261 27 149 88 61 34
1982 212 244 32 150 92 58 26
1983 200 258 58 153 101 52 6
1984 218 326 108 165 115 50 58
1985 213 345 132 157 104 53 79
1986 217 370 153 155 107 48 105
1987 221 381 160 154 109 45 115
[Council of Economic Advisers, Economic Indicators, 1989, pp. 1, 35 36]
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since 1975, and the deficit has been increasing since 1980. In spite of the merchandise trade deficit, the overall balance of trade remained positive, until 1983, when the services surplus was no longer able to overcome the merchandise deficit. It is apparent that the merchandise trade deficit is the major problem area, although the services surplus has also trended generally downward since 1981. A clearer p
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Some common words found in the essay are:
Federal Reserve, Economic Indicators, World Bank, Payments Net, Total Total, Reagan Administration, Deficit Change, Bush Administration's, Reserve Board, , trade deficit, external deficit, value dollar, international trade, american economy, international currency, international currency exchange, federal reserve, currency exchange, balance trade, american trade, international trade deficit, merchandise trade deficit, american trade deficit, exchange value dollar,
Approximate Word count = 4713
Approximate Pages = 19 (250 words per page)
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