"The deficit will be reduced by the cyclical expansion that is now under way, which will absorb spare capacity in the economy, " Charles Collyns, deputy director of the IMF's Western Hemisphere Department, told reporters.

CNN: IMF: U.S. needs to balance budget

So China has come to depend on exports, especially to the United States, to absorb that excess capacity -- something U.S. consumers were happy to do especially over the past decade.

WSJ: China's Consumption Conundrum

The U.S. bulk power system, at an aggregate level, has adequate spare capacity to absorb potential retirements.

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