Submitted by Jack Kalpakian, Sep 8, 2008 14:58

The truth is that the United States has lived on credit for too long. As long as the credit cards were backed by home equity, there was the illusion that such a life is sustainable. It is not. This intervention will not help solve anything. Interest rates must go up, people must be discouraged from borrowing money, and the government needs to pay its debts, once and for all. The US would be well advised to heed Russia's example and focus on exporting products it enjoys a competitive advantage in, as well as building a nest egg of money for rainy days. This also means that the days of foreign adventures, vast international military alliances and their attendant bureaucracies, as well as aid to unreliable allies must become a thing of the past.

Note: Comments are screened, and in some cases edited, before posting. We reserve the right to reject anything we find objectionable.