America has been living in a dream world for the past few years, losing its basic values of thrift and prudence and living far beyond its means, even as it has lectured the rest of the world to follow its model. At a time when the U.S. government has just nationalized a good part of the banking sector, we need to rethink a lot of the Reaganite verities of the past generation regarding taxes and regulation. Important as they were back in the 1980s and ’90s, they just won’t cut it for the period we are now entering.
From The American Conservative: Fukuyama endorses Obama.
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