Peter Wehner quotes Tom Ricks as writing that the liberation of Iraq was “the biggest mistake in the history of American foreign policy” and Joe Klein as writing that it was “probably the biggest foreign policy mistake in American history.”
Well, they’re journalists, not historians, but really. How about:
1) The Embargo Act of 1807 that forbade foreign trade. In order to teach the high-handed British and French a lesson, we went to war with ourselves and blockaded our own ports. New England, deeply dependent on trade and shipping (we had the second largest merchant fleet in the world after Britain at that time) was economically devastated. Smuggling over the Canadian border became so commonplace that northern New England was declared to be in a state of insurrection. The British and French just laughed at us. When Napoleon seized American ships in French ports he said he was just helping enforce the embargo act.
2) In 1811 Congress killed the Bank of the United States, the prime borrowing mechanism of the federal government. The next year it declared war on the only power on earth capable of attacking the United States, Great Britain, raised soldiers’ pay and enlistment bonuses, and adjourned without figuring out how to pay for the war. By March 1813, there was not enough money in the treasury to pay government salaries, let alone fight a war, and only when the Secretary of the Treasury went hat in hand to Stephen Girard, the richest man in the country, to beg him to take most of a bond issue, did we raise enough money to carry on. In 1814 the British occupied and burned the nation’s capital.
3) In 1861, an American naval captain seized two Confederate agents off a British-flagged vessel. It was only when Prince Albert — already dying, it was his last good deed — cooled down Lord Palmerston and provided the means for a diplomatic climb down by the U.S. (which Lincoln gratefully grasped — “one war at a time,” he explained) did we avoid a war with Great Britain when we were already fighting for the life of the Union.
4) After World War I, with Europe devastated and the United States by far the strongest economic and financial power in the world, we withdrew and refused to take on the world leadership that only we could provide. But we insisted that the European powers pay back the money they had borrowed, which they could only do by extracting reparations from an already broken Germany. The Great Depression, the rise of the Nazis, and World War II were the result.