Steve’s having a bad day. You can tell, because he only grows stubble when something is terribly wrong.
(The President just accused him of selling state secrets and refused to give him a trial on the grounds it would demoralize the American people. Instead he’s confiscating Steve’s uniform and shield, revoking his citizenship, and deporting him to Britain. Steve finds English-made hamburgers sub-par, apparently.)
On the plus side, apparently he got his nipples back.
[From Captain America #451, 1996.]