By increasing our exports and encouraging some capital formation (low interest rates for borrowing and favorable exchange), we may actually be able to get some mfring base back which we have been losing for some time.

Also, with less debt in foreign hands we will be less at risk of financial attack.

Your right, in the long run it will probably be good for the country. However there will be pain over the short term until things adjust. And if the dollar crashes, the only thing we can be sure of is that it will be ugly.

What it DOES mean, though, is we have to get our debt under control NOW...and believe it or not I think the conservatives know this, which is why you see some of the defection from Bush about the war (especially the cost) and the lack of fiscal discipline.

I see no signs that has much bearing. The claimed conservatives in congress didn't begin to bail on Bush until the public turned against the war and it became clear that we where loosing. Nor do I see them trying to balance the budget in any meaningful sense. They are just brining up their budget line to counter some recent small domestic spending.

Jay