It is easy to look at America's place in the world right now and believe that we are in a downward spiral of decline. But this is a snapshot of a tough moment. If the country can keep its cool, admit to its mistakes, cherish and strengthen its successes, it will not only recover but return with renewed strength. There could not have been a worse time for America than the end of the Vietnam War, with helicopters lifting people off the roof of the Saigon embassy, the fallout of Watergate and, in the Soviet Union, a global adversary that took advantage of its weakness. And yet, just 15 years later, the United States was resurgent, the U.S.S.R. was in its death throes and the world was moving in a direction that was distinctly American in flavor. The United States has new challenges, new adversaries and new problems. But unlike so much of the world, it also has solutions—if only it has the courage and wisdom to implement them.