I think what is driving people’s pessimism today are two intersecting concerns. The long-term concern is that people intuitively understand that what we need most now is nation-building in America. They understand it by just looking around at our crumbling infrastructure, our sputtering job-creation engines and the latest international education test results that show our peers out-educating us, which means they will eventually out-compete us. Many people understand that we are slipping as a country and what they saw in Barack Obama, or what they projected onto him, was that he had both the vision and capability to pull America together behind a plan for nation-building at home.

But I think they understand something else: that we are facing a really serious moment. We have to get this plan for nation-building right because we are driving without a spare tire or a bumper. The bailouts and stimulus that we have administered to ourselves have left us without much cushion. There may be room, and even necessity, for a little more stimulus. But we have to get this moment right. We don’t get a do-over. If we fail to come together and invest, spend and cut really wisely, we’re heading for a fall — and if America becomes weak, your kids won’t just grow up in a different country, they will grow up in a different world.