Also note that federal and state tax receipts are booming. The next projected fiscal deficit will be surprisingly low compared to prior expectations–probably under 3% of GDP. The US is doing fine.

For decades, the Left has cheered every momentary dip of American economic prestige and predicted imminent victory for socialism, pure or mixed.

History has not cooperated. American eminence has grown while our economic rivals have sunk into regulatory and welfare-state quagmires.

However, here's one prediction with which History will cooperate: for the rest of our lives, anti-capitalist anti-Americans will continue to predict defeat, and they will continue to be wrong.