The Case for Pessimism

After President Barack Obama took office eight years ago, conservatives were reminded that, to quote Adam Smith, there is a great deal of ruin in a nation.

The right-wing depiction of Obama’s America was fantastically apocalyptic, but often drew upon truths. When Paul Ryan warned that Obama would plunge the country into a Greece-like debt crisis, he was completely wrong, and honest experts across the ideological spectrum said as much, but the claim resonated with Obama’s political foes...

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