Rules for a Frugal Superpower

WASHINGTON, DC – American foreign policy stands on the brink of substantial belt-tightening. The mounting expenses of servicing the growing national debt, combined with the skyrocketing costs of Social Security and Medicare as the 78-million-strong baby-boom generation retires, will leave less money for American initiatives abroad.

As I argue in my new book The Frugal Superpower: America’s Global Leadership in a Cash-Strapped Era, the burden that these obligations will impose on Americans – in the form of higher taxes and fewer benefits – will weaken public support for the expansive international role that the United States has played since World War II.