Passing The Buck.(ISSUES & INSIGHTS)(EDITORIALS)(Editorial)

Publication: Investor's Business Daily

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COPYRIGHT 2004 Investor's Business Daily, Inc.

Economy: Fed chief Alan Greenspan is worried about the future. In particular, he's fretting about our trade deficit. With all due respect to the "maestro," he really shouldn't worry. And neither should you.

All this talk of a potential "meltdown" of the dollar and the economy if we don't balance our trade and budget deficits pronto has become a bit overheated. Now Greenspan's part of it.

Yes, all things being equal, it is better to be in fiscal balance -- or close to it -- than out. But all things aren't equal, which is why it's...

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