It’s cliché, yet true — the definition of insanity is repeating the same thing over and expecting a different result.
The trade policies of the past several decades have failed this nation, its workers, and our communities.
Twenty years ago, The New York Times Editorial Board responded to the January 2005 trade deficit of $58.3 billion by writing an editorial entitled “Dangerous deficits.” Deficits are certainly dangerous; former Federal Reserve Chairman Paul Volcker said trade deficits were to blame for the Great Recession.
The Times wrote in 2005: “At $58.3 billion, the U.S. trade deficit for January exceeded everyone’s worst expectations… The trade deficit is the single most important factor in measuring the extent to which the United States lives beyond its means.”
Since then, our trade deficit has more than DOUBLED. The U.S. trade deficit in January totaled a…
