But…but…what if something goes wrong?

…have Americans sunk into the permanent state of “sheer stupidity” that Samuelson suggests?

Possibly. Both political parties seem controlled by coalitions of zealots and special-interest kleptocrats, and that’s reflected in the behavior of Congress. Although Presidents 40-42 displayed awareness of the overall national welfare, Bush 43 facilitated the spending binge (during wartime) of the late unlamented Republican Congress.

By and large, our elites are not acting as fiduciaries of the country’s assets. They’re behaving like irresponsible heirs who squander their patrimony; even worse, they’re squandering the assets of future generations.

There is no guarantee that American decline will not accelerate precipitously. Otoh, although I don’t see what’s going to turn things around, the decline is neither inevitable nor irreversible.

(My infinitesimal contribution to the turnaround is to stop this comment’s bewailing & pontificating, and go focus on my business…)