Trade deficits are a distraction -- focus instead on the debt / Newsom proposes 'balanced' budget with no deficits / Pimco cuts exposure to long-dated US debt as deficits swell / Moody's cuts France's outlook to negative on debt, deficit concerns / Debt woes: Harris vs. Trump economic plans could balloon deficits / Interest payments on the national debt top $1 trillion as deficit swells / Fiscal deficit at 5.6%, beats projection / Reduced deficit, lower govt debt set to push down interest rates