Laura Ingraham hosted Clyde Prestowitz.
Prestowitz explained the trade deficit, stating that we are buing more than we are selling abroad. He also said it depresses wages and jobs. He agreed with Ingraham that many of these trade agreeents with places such as China have caused our trade deficit to increase. He feels we haven't been plahing on a level field and that we have traded off our economic interests for geopolitical interests. Prestowitz feels that if the dollar wasn't the reserve currency because we can too easily print money when we need it which piles up debt. He said globalization hasn't been good for the US.