Those arguments are reasonable enough, but they neglect the vital role that U.S. economic strength played in sustaining the modern defense industry.

FORBES: Why The Defense Industry May Never Bounce Back

That effort produced the iconic B-52 bomber featured in the movie Dr. Strangelove that has played a role in every major U.S. military campaign from Vietnam to Afghanistan.

FORBES: Air Force Wants A Bomber That Balances Cost With Capability

There could be investment to add Journal news and opinion coverage, accelerate product innovation across print and online and help us play the leading role outside the U.S. that we have long played in our home market.

WSJ: A Report to Our Readers

In fact, it was clear that the U.S. environment played some role in the trend, since foreign-born children who had lived in America for more than 10 years were three times as likely to develop allergic diseases as those who spent less than two years Stateside.

CNN: American kids have higher allergy risk

While there is no evidence the effort played a role in a U.S. attorney's 2012 decision to close that investigation, the effort shows how far the disgraced former cyclist and his advisers went to try to frustrate efforts to probe Mr. Armstrong's past.

WSJ: Armstrong Hired Lobbyist to Raise Concerns About Investigator

As U.S. equity markets and corporate balance sheets continue their remarkable comeback from the financial crisis that began in 2008, the recently announced merger between American Airlines and US Airways reminds us of the critical role that U.S. bankruptcy law, represented by Chapter 11 of the U.S. Bankruptcy Code, has played in the ongoing economic recovery.

FORBES: Big Deal: Reflections on the American and US Airways Megamerger