02.20.13 5:30 PM ET
What's the Biggest Threat to American Prosperity?
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.