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Unless The Trade Deficit Shrinks, The Combination Of The Trade Deficit And The Interest And Dividend Payments To Foreigners Will Grow Ever More Rapidly.

Homeowners Who Refinanced Their Mortgages Took Out Cash And Reduced Their Monthly Payments At The Same Time. Much Of The Cash Obtained By Refinancing Was Spent On Consumer Durables, Home Improvements And The Like.

To Finance This Trade Deficit, The U.s. Has To Borrow From The Rest Of The World Or Sell American Assets Like Stocks, Businesses, And Real Estate To The Rest Of The World.

The Only Way That We Can Reduce Our Financial Dependence On The Inflow Of Funds From The Rest Of The World Is To Reduce Our Trade Deficit.

The Price Of Imported Oil In The Us Doubled Between Summer 2003 And Summer 2005, Reducing Consumers' Purchasing Power By More Than 1 Per Cent Of Gross Domestic Product.