NPR Covers Trade Deficit, Sort of

One of my frequent complaints here at BTP is the tendency of the media to ignore the trade deficit. As an accounting identity, the trade deficit must be equal to the sum of the budget deficit and the deficit in private saving. This means that if we have a large trade deficit, then we must have either a large budget deficit and/or a large deficit in private savings. 

For whatever reason people don't like budget deficits. We get large deficits in private savings when we have wonderful deve...