As the dispute of the debt ceiling in 2011, as "financial cliff" crisis once again at the last minute bipartisan compromise. Following in both houses of Congress by the American taxpayer in 2012 tax cut bill that Obama signed the bill, "financial cliff" risk of global financial markets breathless temporarily without fear. The agreement also fully exposed to the two sides of the institutional and economic issues in the United States.
In the short term, the agreement has been reached that the American political system is relatively mature, the opposing parties, although fierce struggle, the last minute was able to form a consensus. Similar politically controversial event in Asia, Latin America and Africa practiced by those countries and regions of the American polity, the opposing sides may not be able to reach a compromise, dragging the whole country falling into the abyss is a high probability event.
Of course, this bill also left a number of unresolved problems, in particular, does not solve the problem of the debt ceiling. The U.S. government has officially reached the $ 16.4 trillion debt ceiling established by Congress, the only "special measures" taken by the U.S. Treasury Department, did not immediately fall into the dilemma of debt default. But if Congress does not raise the ceiling in early March to the end of February, "special measures" will also come to a dead end. Bipartisan indispensable also embarked some bargaining Game, but I think when the two sides will still be able to reach a consensus.
However, if in combination with other factors, look into a longer time span, the bill does not mean that the U.S. financial thus embarked on the root of the problem the easy. On the contrary, it is more likely to bring about a new stage of Uncle Sam drinking poison to quench thirst vicious cycle. "Cliff" after "cliff.
U.S. total debt levels have also been more than 100% of GDP, the U.S. fiscal years has been to rely on new borrowing old cycle ends meet, so many people accused the U.S. fiscal essentially But the pyramid financing "Pang Ponzi scheme, the more the U.S. media "Philadelphia Speaker Network" simply referred to as the "United States of Ponzi poor of America".
So obvious signs of overdraft national strength, the United States has not suffered a similar capital flight as Greece, Portugal frenzy blow to international capital continues to flow into. This is so, the key is that the sole superpower status of the United States, and is built on top of the political and military hegemony currency hegemony. It was with this hegemony, the United States can become a global crisis in any crisis intensify rise, enjoying the profits of the "safe haven" effect of global capital fleeing towards the U.S., Uncle Sam to once again raise the debt ceiling issue by increasing dollar pieces of paper in exchange for more foreign real wealth.
In order to maintain this hegemony, the United States at all Costly military spending year after year to maintain an astronomical figure. "Financial cliff" agreement reached at the same time, Obama signed the $ 633 billion defense spending bill, distinctive However reflects the choice of the United States. However, astronomical military spending is not just lead to direct one of the reasons the U.S. astronomical deficit and debt to the U.S. economy, but also because of its non-productive and add extra unbearable burden. So again, the U.S. deficit and debt year after year expansion, and eventually is then difficult almost unmanageable.
Even without considering the current U.S. Route risk of depletion of national strength, the composition of the population is experiencing profound changes also subtly increase its institutional risk. A U.S. population that has happened and will continue to experience the historic changes, and no way to reverse the trend of decline in the proportion of whites in the foreseeable future. Well, when the future of the U.S. population constitutes usher in a qualitative change, encountered a similar problem today, U.S. involvement in the dispute whirlpool also such as is now the only two parties? Dispute the parties will reach a compromise as today rather than fall into ethnic disputes quagmire as some countries did it?
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