Abstract
Today, people are bewitched, bothered, and bewildered by talk about the twin deficits. However, concentration on the budget deficit and the trade deficit diverts attention from more serious problems: The growth in government spending and the rise of protectionism in international trade.
Reprinted from Cato Journal 8 (Fall 1988): 533–53.
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Meigs, A.J. (1989). Dollars and Deficits: Substituting False for Real Problems. In: Dorn, J.A., Niskanen, W.A. (eds) Dollars Deficits & Trade. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-1288-0_14
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