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Line 293: − + − − The main reason I believe that the USA will be the preeminent power in the 21st century is other countries have even bigger problems than the USA as can be seen below. In addition, innovation and technology will be very important in the 21st century and the USA has a population that has a strong track record of innovation. − − Hopefully, a future economic depression and political polarization will not cause the United States to break up in the 21st century. − − For more information, please see: [[Essay: The USA can reduce its national debt. It has done it before|the USA can reduce its national debt. It has done it before]]
→USA's national debt
*[https://www.axios.com/2023/06/27/us-china-top-economy-pew More countries see U.S. as top global economy over China in post-COVID reversal], Axios, June 27, 2023
*[https://www.axios.com/2023/06/27/us-china-top-economy-pew More countries see U.S. as top global economy over China in post-COVID reversal], Axios, June 27, 2023
=== USA's national debt ===
=== Debt to GDP ratio ===
''See also:'' [[National debt of the United States]] and [[Federal Debt Limit]]
''See also:'' [[National debt of the United States]] and [[Federal Debt Limit]]
During [[World War II]], federal debt peaked at 106% of gross domestic product in 1946.<ref>[https://www.washingtonpost.com/opinions/2020/05/27/this-is-not-your-grandfathers-debt-problem/ This is not your grandfather’s debt problem] By Eugene Steuerle, Washington Post, 2020</ref> It was not until the early 21st century that the US finally paid off its debt from World War II.[https://www.tourisme83.com/the-last-payment-france-finally-pays-off-its-debt-from-world-war-ii-38-years-later/]
During [[World War II]], federal debt peaked at 106% of gross domestic product in 1946.<ref>[https://www.washingtonpost.com/opinions/2020/05/27/this-is-not-your-grandfathers-debt-problem/ This is not your grandfather’s debt problem] By Eugene Steuerle, Washington Post, 2020</ref> It was not until the early 21st century that the US finally paid off its debt from World War II.[https://www.tourisme83.com/the-last-payment-france-finally-pays-off-its-debt-from-world-war-ii-38-years-later/]
It will take decades for Americans to pay off the [[national debt of the United States]] if this happens. And it will require Americans retiring later, defense budget cuts, a merit-based legal immigration system (Winning sports teams bring in the best players), and pro-growth economic policies. The failed presidency of Jimmy Carter was followed by 12 years of Republican rule. I am hoping that Joe Biden's failed presidency leads to a similar string of Republican victories. But time will tell. American economic growth will go a long way to help pay back America's national debt and today's left-leaning Democrats are a drag on the USA economy.
It will take decades for Americans to pay off the [[national debt of the United States]] if this happens. And it will require Americans retiring later, controlling defense budget costs, a merit-based legal [[immigration]] system,, and sound growth economic policies. The failed presidency of Jimmy Carter was followed by 12 years of Republican rule.
Watch the videos which give an overview of America's federal debt problem:
Watch the videos which give an overview of America's federal debt problem:
*[https://www.youtube.com/watch?v=EQ55BY7NKVk Does National Debt Still Matter? America's Gamble], [[libertarian]]/small government view, ReasonTV
*[https://www.youtube.com/watch?v=EQ55BY7NKVk Does National Debt Still Matter? America's Gamble], [[libertarian]]/small government view, ReasonTV
*[https://www.youtube.com/watch?v=bAlF39Y_Lvw The US Debt Situation Explained], Discusses dangers and not being super/overly concerned. Essentially argues Americans should be concerned and fix the problem, but not be panicked.
*[https://www.youtube.com/watch?v=bAlF39Y_Lvw The US Debt Situation Explained], Discusses dangers and not being super/overly concerned.
*[https://www.youtube.com/watch?v=FC5Gkox-1QY Professor Antony Davies: Taxing the Rich Will NOT Fix The Deficit]
*[https://www.youtube.com/watch?v=FC5Gkox-1QY Professor Antony Davies: Taxing the Rich Will NOT Fix The Deficit]
== Liberal views on China ==
== Liberal views on China ==