Dan Drezner: “As the war in Iran continues to not be won, however, the cracks in the foundations of American power are showing. Whether it’s guns or butter, the America is coming up short.”
“The U.S. has badly depleted its stockpile of missile interceptors, eliminating the ability to deter Russia and China. Members of the U.S. military on extended deployment are starting to fray at the seams. Total U.S. federal debt just exceeded $40 trillion. Treasury Secretary Scott Bessent’s recent efforts to intervene in the bond market have failed miserably.”
