DC Econ: Bob Murphy's talk

America is in a trade deficit where we are buying more then we are selling. One major reason for this is Nixon killing the gold standard. This goes with the budget deficit where America borrows too much money. Other countries recognize this and try to take advantage of America borrowing and not selling. Trade deficit is more of a problem spending problem than a tariff problem. In conclusion, America is importing more than exporting which is a problem.
He uses Deuteronomy 15:6 to back his point, which says God instructs Israel to lend to the nations and not borrow from them. Since God knows all, we should use his commands to guide our lives and our economy. God says that blessing people is way better than borrowing from people. We should use the same guide lines in our economy to lend to other countries and not borrow from them. This is something that America is currently not doing good at.