-This article was originally published at American Thinker.
In The Debt Bomb: A Bold Plan To Stop Washington From Bankrupting America, Senator Tom Coburn (R-OK) explains how Washington’s career politicians, staffers, and lobbyists have set the nation up for fiscal failure. Pulling few punches, Coburn targets sacred cows of each party and explains that rather than being in gridlock (as the media claims is the case), Congress has spent the last several decades (and especially the last 15 years) working to expand influence and re-election capabilities regardless of party.
Opening with a story about how America’s rising debt could cause first a financial, and then a military crisis by 2020, Coburn reminds readers that this country is only as powerful as its finances will allow it to be. In this fictional-but-likely future, foreign investors decide in 2014 that America is no longer a viable financial investment. Over a span of days, this new consensus works its way into the value of the dollar, sinking it by 50% and increasing inflation. Riots become widespread, the National Guard is deployed, and the G-20 meets to tell the U.S. that tax rates will double, retirement ages will leap precipitously, and means-testing will be the order of the day on benefits. Finally, in 2019 — two years after employment finally drops from 24% — China invades Taiwan and informs the U.S. that if we stop the invasion, the U.S. will lose both financially (as China dumps our debt) and militarily (as both nations perhaps engage in a nuclear exchange).