OPINION — Imagine turning on your television one morning and seeing a flashing banner across every network with stark words, impossible to ignore: “The United States government declares bankruptcy.”
For a moment, it would feel like the famous “The War of the Worlds” radio broadcast, when listeners thought an alien invasion had begun. People would assume it had to be a mistake. America cannot go bankrupt. The U.S. is too powerful, too wealthy, too central to the global economy.
That assumption is completely wrong. The U.S. is not too big to fail. In fact, we are too big to save.
