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The story of U.S. debt and a provocation

The debate about the U.S. public debt is actually a clash between two visions of the state administration. Obama’s electoral victory came thanks to a program focused on public spending-oriented, especially towards the welfare state. It was the search for a change of mentality in the American system, moving large items in the first chapter of the budget for aspects traditionally neglected. The increase in the volume of expenditure, came to the difficult economic situation, has great difficulty in the coffers of the United States and Obama has found itself having to manage a program is not realized at all. To this can be ascribed, at least in part, success in the mid-term elections the Republican Party, which, notoriously, has a lower propensity for government spending, especially in respect of the social domain. This debate also took on dramatic tones, does not arrive at a shared solution, the entire economy could lead to a crisis hard to beat. Obama’s proposal concerns the cutting of some social programs that provided a major expense, however, to cover the scissors, the president requires a tax increase to raise at least part of its election program. Obama has already made this proposal a step to meet the other party, but the topic of taxes is a taboo for the Republican leadership, which does not show himself willing to retreat. The real issue is the public debt, cutting public spending alone is not enough to decrease significantly, without new revenue the balance does not move enough. With this stalemate in danger of failure is increasing around the corner. At the end purely electoral reasons internal to the United States, may institute an amazing domino effect throughout the world. To make matters worse the election date of 2012, which is likely to harden their positions even more due to fear of having eroded the capital of votes for each deployment, which could thinning if one or both sides with respect to cede too much ground starting positions. In this situation, think outside mediation would also be an interference in the internal politics of a state? Given the high rate of globalization, of which the U.S. has always been advocates, this suggests that, even given the size of the potential impact on the global economic system, any external intervention, which could range from simple mediation between the parties until a mass under protection of U.S. financial policy, then not so farfetched an idea. The event may seem like political fiction, but you take it, with all due differences, the case greek or even encroaching into other areas, the export of democracy and one can not but admit that the similarities are not present. It ‘clear that this challenge has fundamental implications because in a case like the U.S. to relinquish its position as a world power, brought forward, however, lately with great effort. Besides, the only think that possibility is already something momentous.



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