Remember how the US current account deficit hit $542bn in 2003? And how the US trade deficit for the first two months of 2004 is outstripping 2003's pace by 9% and 2002's pace by a whopping 44%? And how the current account deficit hit 5.2% of GDP in the first half of 2003? And how the US net international investment deficit for 2002 was 25% of GDP -- surely around 30% of GDP for 2003?
Well, thanks to Mr. Bush's War, it's all only going to get worse.
And unlike the esteemed Professor Galbraith, I don't think a John Kerry presidency is going to make it any better.