Our country is going deeper into debt to pay for consumption instead of investment, and in my view this trend is undesirable and at some point unsustainable. If our current account deficit continues to grow, foreign investors can’t be counted on to keep lending to the United States on the same terms as in the past...These pressures are made even more worrisome because we are using part of the proceeds from borrowing abroad to finance our current account deficit while we are also using part to finance our growing domestic fiscal deficit—the other twin.