Hole in the bucket?

In economics, the current account is one of the two primary components of the balance of payments, the other being the capital account. It is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

The current account deficit should not be confused with the budget deficit, which accumulates as the national debt.

I recommend reading this short essay called A Hitchhiker's Guide to the U.S. Current Account Problem by Owen F. Humpage from the Federal Reserve Bank of Cleveland. I read it several years ago, but the fundamentals still apply.