A legacy of current account deficits means the US economy is increasingly dependent on the behaviour of foreign investors.
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This awareness of greater dependency may explain why there appears to be a heightened amount of concern over the large-and-growing-larger deficit.
Of course, there have always been people who've called attention to these issues but it seems to me that the decibel level of the shouting has increased dramatically this year with all sorts of folks talking about "record deficits" of half a trillion and more in our very near future.
And then there's the matter of the recent IMF warning issued to the US about deficits and obstacles to 'growth'.
DRM
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