Making the IMF More Effective

2012-07-01T00:00:00Z (GMT) by Allan Meltzer

As you know, the United States will again run a current account deficit of between 3 and 4% of GDP. This is a large deficit for a mature economy like ours, and it follows a similar current account deficit last year. The size of the deficit shows the willingness of foreigners to invest in our dynamic economy and America's opportunity — both households and businesses — to buy quality products at competitive prices abroad.