The full faith and credit of the United States is not what it used to be. Although the level of the national debt as a proportion of the GDP is approaching heights already experienced in the aftermath of World War II, the country is not the same. It is true that American taxpayers – the ones who bear the real burden of servicing government debt – are generally wealthier and materially more prosperous than at any time in U.S. history. But one of the main components of credit worthiness is character. And that character, as reflected in the popular culture and in the conduct of its public institutions, whether corporate or governmental, is a pale quivering shadow of its postwar self.
Bolt down the debt ceiling
Bolt down the debt ceiling
Bolt down the debt ceiling
The full faith and credit of the United States is not what it used to be. Although the level of the national debt as a proportion of the GDP is approaching heights already experienced in the aftermath of World War II, the country is not the same. It is true that American taxpayers – the ones who bear the real burden of servicing government debt – are generally wealthier and materially more prosperous than at any time in U.S. history. But one of the main components of credit worthiness is character. And that character, as reflected in the popular culture and in the conduct of its public institutions, whether corporate or governmental, is a pale quivering shadow of its postwar self.