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What are the Twin Deficits that the U.S has and why?

What are the Twin Deficits that the U.S has and why?

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A country that has a fiscal deficit, as well as a current account deficit, is said to have a twin deficit. The USA has a twin deficit as it has a fiscal deficit as well as a trade deficit.

A country has a fiscal deficit when the government expenses are higher than the government revenue. In 2017 fiscal, the USA had a fiscal deficit of $666 billion.

A country has a trade deficit when its imports are higher than its exports. In the second quarter of 2017, the USA had a trade deficit of $123.1 billion.

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