Pessimism from the left. Pessimism from the right. Pessimism from inside the Beltway and from the grassroots.
It's unwarranted. It really is time to buy America, not sell.
Fact is the “problems” we think we have aren't problems at all.
Take the deficit. What drives it? The biggest drivers are the Bush tax cuts and the fact we have yet to pay for the wars of the last decade. So end the Bush tax cuts and charge a “war surtax” on oil of, say, $10/barrel until the wars are paid for.
You have just cut the debt in half.
Plus, the oil tax provides a huge incentive for renewable energy, especially the kind you get from efficiency. You just created jobs in insulation, you created a bigger market for higher-mileage cars, and you put a premium on houses that are close to jobs. That's growth, in all the sectors where we most need growth.