Money: Elusive Balance

Almost every year around this time, the U.S. balance of payments problem gets to be like the old Brooklyn Dodger lament: wait till next year. Last year the Kennedy Administration trumpeted that it would bring the nation's international payments into balance during 1963. Last week, acknowledging that it had been overoptimistic, the Commerce Department reported that the U.S. overseas deficit widened in this year's third quarter (see chart), would probably wind up at more than $2 billion for the whole year.

Though this is better than last year's deficit of $2.5 billion, the Treasury had hoped to get the deficit down...

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