{"id":81,"date":"2005-09-26T12:18:53","date_gmt":"2005-09-26T16:18:53","guid":{"rendered":"http:\/\/blogs.law.harvard.edu\/globalfund\/2005\/09\/26\/america-is-running-out-of-time\/"},"modified":"2005-09-26T12:18:53","modified_gmt":"2005-09-26T16:18:53","slug":"america-is-running-out-of-time","status":"publish","type":"post","link":"https:\/\/archive.blogs.harvard.edu\/globalfund\/2005\/09\/26\/america-is-running-out-of-time\/","title":{"rendered":"America is running out of time"},"content":{"rendered":"<p><a name='a116'><\/a><\/p>\n<p><b>By <a href=\"http:\/\/www.vdare.com\/asp\/index.htm\"> Paul Craig Roberts<\/a><\/b><br \/>\nGeorge W. Bush will go down in<br \/>\n\t\t\t\t\t\thistory as the president who fiddled while America lost<br \/>\n\t\t\t\t\t\tits superpower status.<\/p>\n<p>Bush used deceit and hysteria to<br \/>\n\t\t\t\t\t\tlead America into a war that is bleeding the US<br \/>\n\t\t\t\t\t\teconomically, militarily, and diplomatically.&nbsp; The war<br \/>\n\t\t\t\t\t\tis being fought with hundreds of billions of dollars<br \/>\n\t\t\t\t\t\tborrowed from foreigners.&nbsp; The war is bleeding the<br \/>\n\t\t\t\t\t\tmilitary of troops and commitments.&nbsp; The war has ended<br \/>\n\t\t\t\t\t\tthe US claim to moral leadership and exposed the US as a<br \/>\n\t\t\t\t\t\treckless and aggressive power.<\/p>\n<p>Focused on a concocted<b> &#8220;war on<br \/>\n\t\t\t\t\t\tterrorism,&#8221; <\/b>the Bush administration<br \/>\n\t\t\t\t\t\t<a href=\"http:\/\/www.pittsburghlive.com\/x\/tribune-review\/opinion\/columnists\/s_372545.html\"><br \/>\n\t\t\t\t\t\tdiverted money from the New Orleans levees<\/a> to Iraq,<br \/>\n\t\t\t\t\t\twith the consequence that the US now has a $100 billion<br \/>\n\t\t\t\t\t\trebuild bill on top of the war bill.&nbsp; <\/p>\n<p>The US is so short of troops that<br \/>\n\t\t\t\t\t\tneoconservatives are<br \/>\n\t\t\t\t\t\t<a href=\"http:\/\/www.cnn.com\/2005\/POLITICS\/09\/19\/foreign.legion\/\"><br \/>\n\t\t\t\t\t\tadvocating <\/a>the use of<br \/>\n\t\t\t\t\t\t<a href=\"http:\/\/www.vdare.com\/fulford\/foreign_legions.htm\"><br \/>\n\t\t\t\t\t\tforeign mercenaries<\/a> paid with US citizenship&#8230;..\n<\/p>\n<p>Compared to US budget and trade<br \/>\n\t\t\t\t\t\tdeficits, terrorists are a minor concern. The greatest<br \/>\n\t\t\t\t\t\tdanger that the US faces is the dollar&#x2019;s loss of reserve<br \/>\n\t\t\t\t\t\tcurrency role.&nbsp; This would be an impoverishing event,<br \/>\n\t\t\t\t\t\tone from which the US would not recover.&nbsp; <\/p>\n<p>An intelligent government sincerely<br \/>\n\t\t\t\t\t\tconcerned with homeland security would find a way to<br \/>\n\t\t\t\t\t\thalt the global labor arbitrage that is stripping the<br \/>\n\t\t\t\t\t\tAmerican economy of high value-added jobs and<br \/>\n\t\t\t\t\t\tmanufacturing capability, thereby causing the US trade<br \/>\n\t\t\t\t\t\tdeficit to explode. The loss of tax base that results<br \/>\n\t\t\t\t\t\twhen US companies outsource jobs and relocate production<br \/>\n\t\t\t\t\t\tabroad makes it ever more difficult to balance a budget<br \/>\n\t\t\t\t\t\tstrained by war, natural disasters, and demographic<br \/>\n\t\t\t\t\t\timpact on Social Security and Medicare. <\/p>\n<p>\n\t\t\t\t\t\t<a href=\"http:\/\/www.vdare.com\/roberts\/labor_arbitrage.htm\"><br \/>\n\t\t\t\t\t\tGlobal labor arbitrage<\/a> is rapidly dismantling the<br \/>\n\t\t\t\t\t\t<a href=\"http:\/\/www.vdare.com\/roberts\/050822_hegemony.htm\"><br \/>\n\t\t\t\t\t\tladders of upward mobility<\/a> and thereby endangering<br \/>\n\t\t\t\t\t\tAmerican political stability.&nbsp; This threat is far<br \/>\n\t\t\t\t\t\tgreater than any Osama bin Laden can mount. &#8230;\n<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Paul Craig Roberts George W. Bush will go down in history as the president who fiddled while America lost its superpower status. Bush used deceit and hysteria to lead America into a war that is bleeding the US economically, militarily, and diplomatically.&nbsp; The war is being fought with hundreds of billions of dollars borrowed [&hellip;]<\/p>\n","protected":false},"author":359,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[780],"tags":[],"class_list":["post-81","post","type-post","status-publish","format-standard","hentry","category-globalization"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/archive.blogs.harvard.edu\/globalfund\/wp-json\/wp\/v2\/posts\/81","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.blogs.harvard.edu\/globalfund\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.blogs.harvard.edu\/globalfund\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/globalfund\/wp-json\/wp\/v2\/users\/359"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/globalfund\/wp-json\/wp\/v2\/comments?post=81"}],"version-history":[{"count":0,"href":"https:\/\/archive.blogs.harvard.edu\/globalfund\/wp-json\/wp\/v2\/posts\/81\/revisions"}],"wp:attachment":[{"href":"https:\/\/archive.blogs.harvard.edu\/globalfund\/wp-json\/wp\/v2\/media?parent=81"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/globalfund\/wp-json\/wp\/v2\/categories?post=81"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/globalfund\/wp-json\/wp\/v2\/tags?post=81"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}