THE UNITED STATES CAN NO LONGER CONTROL THE WORLD
Even if America once felt wealthy enough to squander its financial resources in such pursuits, those days have ended. Washington is effectively bankrupt, with massive unfunded liabilities. Its fiscal future will only worsen as Baby Boomers continue to retire. The annual budget battle is at its peak and Washington continues to flaunt its remarkable dysfunction. This fiscal irresponsibility affects more than domestic programs. In the coming years, it is likely to drive U.S. foreign and military policy. …