Chinese Professor “Why do great nations fail?”

On October 21, 2010, Citizens Against Government Waste (CAGW) unveiled a national ad addressing our country’s spending addiction, the dangers of relentless deficits, and the corrosive nature of our national debt. This new ad, which features a chilling look at one potential future scenario if America continues on its current destructive fiscal trajectory, is a 2010 homage to “The Deficit Trials,” a 1986 ad that was produced by W.R. Grace & Co. For those who were able to view it, the ad caused a sensation; it was considered so controversial at the time that the networks refused to run it. J. Peter Grace, CAGW’s co-founder and the chairman of President Ronald Reagan’s Private Sector Survey on Cost Control (the Grace Commission), was alarmed about what the debt would do to future generations. The national debt was $2 trillion in 1986, when “The Deficit Trials” ad was denied broadcast time; today the debt stands at $13.7 trillion and is projected to reach 140 percent of GDP in two decades, the time in which the new CAGW ad is set.The new ad is part of an ongoing communications program in CAGW’s decades-long fight against wasteful government spending, increased taxes, out-of-control deficit spending, and a crippling national debt that threatens the future and survival of our country. CAGW plans to run the ad on major cable networks throughout the rest of 2010 and into 2011.

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Chinese Professor “Why do great nations fail?”, posted with vodpod

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