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The Aspen Institute never promised that all the big notions aired at its popular Aspen Ideas Festival will be full of hope and inspiration. The sixth annual festival opened with a sobering vision of the future from financial historian and Harvard professor Niall Ferguson, who declared that history indicates the United States is an empire "on the edge of chaos."...
... "If you really want to see when an empire is getting vulnerable, the big giveaway is when the costs of serving the debt exceed the cost of the defense budget," Ferguson said. That will happen in the United States within the next six years, he predicted...
...If the United States fades as a world economic and military superpower, Ferguson sees dire consequences, regardless of whether China replaces it. One result of the U.S. loss of power, he predicted, is the greater Middle East "spiraling out of control." Ferguson said America can finding solid fiscal footing by making tough decisions — soon — on federal deficits. He also advocated easing taxes on small companies and corporations to spur investment and hiring.
Originally posted by nine-eyed-eel
But of course, I don't need him to say what is obvious to me already, hee-hee...