Almost a decade ago, Europeans and many progressive Americans were lamenting how the United States was going to miss out on the 21st-century paradigm symbolized by the robust European Union. Neanderthal Americans were importing ever more oil while waging a costly 'war on terror' and fighting conflicts in Iraq and Afghanistan. Our budget deficit in 2003 hit $374 billion. The European Union avoided foreign conflicts and embraced soft power. Its declining military budgets and centralized transnational government ensured that it could address climate change and fund ever-expanding entitlements. Even the poorer Mediterranean nations reached new heights of prosperity. The Greek economy soared. Spain’s real estate market was to become the hottest in the world. Italy seemed to resemble Germany more than Portugal.