America's growing trade deficit has become a big issue this election cycle. A recent poll found that more than half of Americans believe America's trade deficit with China to be a serious problem. This issue, however, is more complicated than it is usually presented. Examining the trade deficit per capita as well as the total trade deficit, one can see that although China has the largest total deficit, it actually has the smallest deficit per capita. Indeed, some believe that our trade deficit with Germany poses a more significant threat than that with China.