Will Debt Sink the American Empire?

Will Debt Sink the American Empire?

So asks the Wall Street Journal, in an uncharacteristically gloomy article for the bull market's paper of record.

They kick off with the problem: America is "cruising" into an uncharted sea of federal debt, with a government seemingly incapable of turning it around.

In other words, the uniparty has set its course, and th…