NewsFlash: September 19, 2006
Costs of foreign borrowing pile up
EPI’s analysis of the quarterly current account shows the deficit has widened again, but this time with a twist.
This quarter marks the largest net deficit in history on income earned on foreign assets, a balance that in 2005 hit negative territory for the first time since 1961. In today’s International Picture, EPI economist Robert Scott explains the importance of income on foreign assets and illustrates the downturn with graphics.
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