The current account deficits incurred by the United States in the 1980s were caused,in the opinion of many economists,by

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Federal budget deficits during the 1980s are widely regarded by economists as a primary cause of the United States' current account deficits during that period. The government's increased borrowing to finance these deficits led to higher interest rates, attracting foreign capital and contributing to a stronger dollar, which in turn made imports cheaper and exports more expensive, worsening the current account balance.

The Current Account Deficits Incurred by the United States in the 1980s