Bob Hormat is vice chairman of Goldman Sachs (international). His publications include The Price of Liberty: Paying for America's Wars from the Revolution to the War on Terror; Abraham Lincoln and the Global Economy; American Albatross: The Foreign Debt Dilemma; and Reforming the International Monetary System.

Changing economic policies isn’t enough, says Goldman Sachs executive Robert D. Hormats—we also have readjust core American values. The government needs to stop borrowing, start saving, and beef up socioeconomic programs.