Define and explain what the Current Account Deficit is.

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Question
U.S. Current Account Deficit Discussion
The media and others suggest that the current account deficit run by the U.S. is a problem for the economy.

1. Do you think that the current U.S. deficit is a problem? If so, why so? If not, why not?
2. What action(s) would you advise federal government officials to take on this issue?
3. Define and explain what the Current Account Deficit is.
4. Define and explain what a Current Account Surplus is.
5. When was the last time in the recent past when there was a Current Account Surplus?

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