The Overstretch Myth

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This article is too long to post entirely, but I think you will find it very interestin.

The Overstretch Myth

David H. Levey and Stuart S. Brown

From Foreign Affairs, March/April 2005

Summary: The United States' current account deficit and foreign debt are not dire threats to its global position, as would-be Cassandras warn. U.S. power is firmly grounded on economic superiority and financial stability that will not end soon.

David H. Levey recently retired after 19 years as Managing Director of Moody's Sovereign Ratings Service. Stuart S. Brown is Professor of Economics and International Relations in the Moynihan Institute of Global Affairs at Syracuse University's Maxwell School of Citizenship and Public Affairs.

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