The New Rules: U.S. Global Role Depends on Hard Fiscal Choices

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Much of the global perception of America’s long-term decline as the world’s sole surviving superpower is in fact driven by our fiscal decline. That’s why I was disturbed to hear Democrats so quickly dismiss GOP Sen. Paul Ryan’s bold, if flawed, federal budget proposal on the grounds that it would “end Medicare as we know it.” Frankly, arresting our decline means ending a lot of things “as we know them.” That’s simply what being on an unsustainable path forces you to do. But as difficult as reforming federal entitlement programs will be, it is absolutely necessary, because a look at […]

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