A Nation of Cowards?

One of the reasons America stays strong is because Americans are their own harshest critics. Of course, the old trick of “using the enemy’s skill against him,” with which we are familiar from martial arts stories, is one that can be applied by any nation. That is to say, it’s simply too easy to attack Americans using the same criticisms they use against themselves.

Evan Newmark is an investor who recently withdrew from investment banking to pursue stock market speculation on his own. After reading the 2010 U.S. financial report, he could no longer contain his fury over the financial crisis and lashed out in a Wall Street Journal piece published under the sensational title, “May God Bless America, A Nation of Cowards.”

What worried Newmark most was the enormous national debt of $12.5 trillion. Those who are interested in learning more about the magnitude of this debt can watch “Zeitgeist: Addendum,” a radical, angry documentary produced by a director who felt that social reform was necessary in the face of a mounting deficit. At the time, the figure had not yet reached $9 trillion. Now it stands at $12.5 trillion, portending an even more uncertain future.

Newmark calls Americans cowards because he says its government and people are unwilling to face their huge debt, and the government’s new annual budget will not do enough to shrink the deficit.

In order to address the problem, the government should collect an appropriate amount of income tax (to ensure that incomes continue to increase), and at the same time cut various expenses in order to reduce overall spending. Unfortunately, politicians are unable to make these tough decisions.

If they raise taxes, no one will forgive them!

If they cut welfare, no one will understand!

Politicians are afraid to suggest raising taxes for fear of losing capitalist support, and they don’t cut welfare for fear of losing voter support.

Obama is only willing to go as far as imposing short-term fines on the Wall Street banking sector, which has been publicly held at fault. He also tried to placate unemployed American workers at the risk of offending China. Did he ever think what the consequences would be if China decided to dump the enormous U.S. debt?

From this perspective, the U.S. government is certainly being cowardly. These issues are also present in Europe, as many nations of the EU are facing debt crisis. In order to reduce the deficit and improve the economy, the government should really cut welfare spending and call on citizens to tighten their belts, but it seems that no politician is willing to risk angering voters.

However, the same government that is cowardly in deficit management is arrogant in diplomacy, and this contradiction is an issue worth pondering.