MN Prager Discussion Group

Mark Steyn: Gradual insolvency about to speed up

from the Orange County Register:

“Including the unfunded liabilities of Social Security and Medicare, the United States owes 911 percent of gross domestic product, more than even Greece.

I was in Australia earlier this month, and there, as elsewhere on my recent travels, the consensus among the politicians I met (at least in private) was that Washington lacked the will for meaningful course correction, and that, therefore, the trick was to ensure that, when the behemoth goes over the cliff, you’re not dragged down with it. It is faintly surreal to be sitting in paneled offices lined by formal portraits listening to eminent persons who assume the collapse of the dominant global power is a fait accompli. “I don’t feel America is quite a First World country anymore,” a robustly pro-American Aussie told me, with a sigh of regret.

Well, what does…

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