It outlines five stages of decline, taken from How the Mighty Fall: And Why Some Compaines Never Give In by Jim Collins, and applied to our nation. The five stages are:
- Hubris born of success
- Undisciplined pursuit of more
- Denial of risk and peril
- Grasping for salvation
- Capitulaton or death
Frankly, I am not optimistic that our leaders will choose to take the painful medicine that will stop the unsustainable spending and lead us back from the waterfall of national bankruptcy. We may be too far down that river already, out of reach of rescue, to stop our country from going over the precipice.
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