I really see the U.S. staggering under the burden of three blows. One is 9/11 and the threat of terrorism, which is still huge in Syria, Iraq, and elsewhere. The second is the failed 2003 war in Iraq, which cost so much and ruined America's credibility in the eyes of so many. Obama has repaired it to some extent, but those scars are deep. And then, thirdly, banks failed, the whole real estate market had the carpet pulled out from under it.
