Our readingWhat is a korrent?
The cure for the trade deficit is to tax consumption instead of saving and investment, and to stop borrowing to fund consumption.
Drawn from what John H. Cochrane said
What these subjects mean
fiscal policy The spending-and-taxing half of macro, as against the central-bank half: multipliers, stabilisers, stimulus.
tariffs Taxes on imports: whether they close a trade deficit, what they do to prices, and what they are really for.
On the topicDo tariffs do what they are imposed to do?under our view: A trade deficit is a capital surplus, so the deficit to fix is the budget's