Going critical: American power and the consequences of fiscal overstretch.

From: The National Interest | Date: September 22, 2003| Author: | Copyright information

... the interesting subject of the finances of the declining empire.

--Edward Gibbon, Decline and Fall of the Roman Empire, Book I, ch. XVII

TOPPLING THREE tyrannies--that of Slobodan Milosevic, the Taliban and now Saddam Hussein--within four years is no mean achievement by the standards of any past global empire. What makes this achievement so remarkable is that it comes little more than a decade after a wave of anxiety about American "overstretch" and decline. In The Rise and Fall of the Great Powers, Paul Kennedy warned that the United States was running "the risk ... ...

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