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SOURCE National Press Club
Dean Baker, Economist, co-director and co-founder of the Center for Economic and Policy Research
WASHINGTON, Feb. 22, 2013 /PRNewswire-USNewswire/ -- While taxes, spending and jobs lead the discussion on how to fix the economy, the impact of the trade deficit has been largely ignored. But economists like Dean Baker, co-director and co-founder of the Center for Economic Policy and Research, argue that the trade deficit is the major imbalance in the U.S. economy – and that as long as the large trade deficit continues, the United States must either have a large budget deficit or the negative private savings that drove the housing-bubble consumption boom.
At an NPC Newsmakers news conference on Feb. 28, Baker will explain why a more sustainable growth path will require a move towards balanced trade. While many advocate policies that push for competiveness, any effects of this on reducing the trade deficit will be modest compared to reducing the value of the dollar against other currencies. Baker will argue that if the country is to return to a sustainable growth path, then the value of the dollar needs to decline further against other currencies.
Baker is frequently cited in economics reporting in major media outlets, including the New York Times, Washington Post, CNN, CNBC, and National Public Radio. He writes a weekly column for the Guardian Unlimited (UK), the Huffington Post and TruthOut. His blog, Beat the Press, features commentary on economic reporting. His latest book is The End of Loser Liberalism: Making Markets Progressive.
This National Press Club Newsmakers news conference is scheduled for 10 a.m., Thursday, Feb. 28, 2013 in the Zenger Room on the 13th Floor of the National Press Building, 529 14th St., NW, Washington, D.C.
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