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Joeky3007
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It is a revisionist quote, but there are similarities between now and then. Rome often had a problem of ships arriving full of goods and leaving largely empty, that is, Rome also had the problem of having a huge trade deficit. That this "Cicero" does not mention trade is most telling. Latifundium comes to mind too.
A trade deficit leads to higher unemployment. Higher unemployment leads to a high government deficit (and monetary action in modern times). In short, the quotation misses the (causal) key variable. If you want to go after the government deficit, you should attack the trade deficit directly.
The economic graphs link the trade deficit to unemployment and the economy. With oil shocks (a trade deficit problem) the effect is immediate. Otherwise the effect may lag for one or two years, but it still happens.
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