IN the wake of the hugely disappointing budget deal and the S.& P.’s debt downgrade, maybe we need to hang a new sign in the immigration arrival halls at all U.S. ports and airports. It could simply read: “Welcome. You are entering the United States of America. Past performance is not necessarily indicative of future returns.”
Because our country is now finding itself in the worst kind of decline — a slow decline, just slow enough for us to keep deluding ourselves that nothing really fundamental needs to change if our future is to match our past.
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Author:THOMAS L. FRIEDMAN