11/28/2010 11:45 am ET | Updated May 25, 2011

Arianna Discusses 'Third World America' On CBS 'Face The Nation' (VIDEO)

Arianna appeared on CBS's "Face The Nation" Sunday morning, along with Bob Woodward, Edmund Morris, and Ron Chernow, to discuss her book "Third World America."

"I wanted to sound the alarm," Arianna told host Bob Schieffer. With two-thirds of Americans expecting their children to be worse-off than they are, and with the U.S. lagging behind European countries in key areas, "We know there is something fundamentally wrong," Arianna said. "That's why we have that collective sense of anxiety and fear about the future."


Edmund Morris, the author of a new biography of Teddy Roosevelt, said that he feels America has become a very insular society. As someone born outside of the U.S., he said he can view America through foreign eyes, "and not all I see is attractive."

"I see an insular people who are insensitive to foreign sensibilities, who are lazy, obese, complacent, and increasingly perplexed as to why we are losing out place in the world to people who are more dynamic than us and more disciplined," Morris said.

Arianna defended Americans from Morris's criticism. "There is a lot of legitimate anger out there, the sense that somehow the game is rigged, that if you are powerful enough, that if you are running institutions that are too big to fail, you can get away with anything" she said.