Russ Robert writes:
The U.S. government borrows money easily because we’re the tallest pygmy. But if we keep spending money like a drunken sailor, we will get shorter and more responsible nations will soon tower over us. We are playing with fire.
Then Arnold Kling corrects him:
We are not the tallest pygmy. According to this story, our government's credit standing is already below that of Canada, Germany, France, New Zealand, and Switzerland.
To put these comments in perspective, here is a nonpartisan budget deficit projection by the Congressional Budget Office from earlier last year: