Fix It

What's the Biggest Threat to American Prosperity?

02.20.13 5:30 PM ET

ITALIAN productivity RELATIVE to US

Italy's problems are daunting, reports the Financial Times.

Meanwhile, on this side of the Atlantic we hear good news about the U.S. economy every day: housing recovering, household deleveraging, etc. etc. The biggest threat to US prosperity, however, is distinctly Italian-style: the political dysfunction that brings us unnecessary fiscal crisis after unnecessary fiscal crisis. If, as Byron York, everybody agrees that the sequester is stupid and destructive … why are we doing it? Because it sure does seem that do it, we will.