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Losing Faith

US News and World Report, September 9, 2011: How a Leadership Deficit is Deepening the Debt Crisis

During the financial turmoil of the past month, U.S. President Barack Obama, German Chancellor Angela Merkel, and French President Nicolas Sarkozy have all taken to the podium in an attempt to calm the public and investors. Obama reassured any who would listen that the United States would always have a triple-A credit rating, despite the fact that Standard & Poor’s had just downgraded U.S. debt. Merkel and Sarkozy announced plans for a new economic government in Paris as the rest of the continent panicked over Europe’s ability to contain its festering debt crisis.

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