Wednesday, April 14, 2010 | 2:03 a.m.
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From 1945 until 1980, America was a creditor nation, the dollar was strong, and people all over the world coveted goods made in America. But within the past 30 years, America became a debtor nation, the dollar is weak, and we seem to import just about everything we consume.
In 1980, the national debt was less than $1 trillion. The national debt is now more than $12 trillion.
Greed has become our nation’s motto. Our corporate executives make 300 times more than their employees. We live for the short term with financial instruments that were conceived to cheat and exploit the public.
One side wants lower taxes and less government. The other side wants higher taxes and more government. Neither side will save us.
History shows that all empires must one day collapse. We are going out with a whimper — a gradual decline in living standards for generations to come.
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