The Comeback

America in Decline

America is sinking compared to rising economies like China’s, in absolute economic, practical and even ethical terms. Personal responsibility once defined the American spirit, as represented by generations of people who sacrificed all they could so their kids might have a better life.

The United States once was the home of industry and innovation. Those days are over. America is massively in debt. By spending excessively, the country steals from future generations. You can see the gap between the old and new Americas by looking at Detroit, which once was a vibrant industrial city. Now Detroit’s unemployment rate is more than 20%, and the city “lost over 250,000 jobs” between 2000 and 2010, the worst job-loss rate in the country.

Government is the only industry insulated from the current recession. Money flows into Washington to pay lawyers and lobbyists who make or influence laws that interfere with innovation or call for wasteful government spending. America stands on the verge of economic collapse due to federal, state and consumer debt. Some states and cities may go bankrupt.

Neither Democrats nor Republicans are willing to take the...