US Presidency
1961

The reason why the British, as you know, have been considering withdrawing some of their troops from bases stationed around the world is because of their balance of payments difficulty. The reason that they have been reluctant to station additional troops in Western Germany has been because of the same reason. In other words, therefore, the matter which we are now discussing, of trade, involves not only our economic wellbeing but the basic commitments of the United States to dozens of countries around the world. Unless our balance of trade, and our surplus, is sufficient, for example, to pay for this three billions of dollars, then we have no remedy but to start pulling back. So that for those who address themselves to this subject in the coming months, they must realize that it goes to the heart of our survival as well as our economic vitality.