As goes Japan, so goes the U.S.
A recent story by the Associated Press asked if the sun is setting on Japan. The issues cited were a rapidly aging population, a bulging national debt, political gridlock and a culture slow to embrace change. The article concluded that Japan will “muddle through” and “follow in the footsteps of former global powers such as France and Britain.”
What does this bode for America? We have the same issues that are confronting Japan.
Starting Jan 1, 2011, 10,000 Americans each day will reach age 65. This will continue for the next 19 years. The impact on our entitlement programs will be enormous. Our national debt will soon reach $14 trillion and Washington just added $858 billion with the recent tax cut extensions. This trend will continue without major change in our revenues and expenditures.
We have experienced major political gridlock in recent years and only someone wearing blinders would predict it will not continue. We show little appetite for large scale change when the situation clearly demands it. This applies to the federal deficit and debt as well as issues of social and moral justice.
The situation for Japan is very clear in the short run. Her economy has been replaced by China as number two in the world. Her influence is on the decline.
How can we predict any other trend for America? History proves you either grow or shrink in power and influence in the global picture. The reasons listed above clearly suggest that as the 21st century advances we will not grow without the political courage to stop the gridlock and address our needs.
Royce M. Blackwell
Elgin