Includes bibliographical references and index.; Welcome to Argentina : how America borrowed its way into a debt crisis -- Borrowing, boom, and bust : the capital flow cycle -- Risky business models -- The death spiral -- Bailout -- Economy in shock -- The world's turn -- What is to be done? -- Conclusion.; Examines the role federal borrowing played in the economic collapse of 2008, describing the economic and political causes of the collapse, and discussing what the continuing impact of the debt and foreign borrowing will be on the United States in the twenty-first century.;