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The Telegraph: America is politically and economically bankrupt.

The Telegraph: America is politically and economically bankrupt.

Posted by INTEL DROP - Tim Stanley - 29 Oct. 2023

The crisis with the election of the Speaker of the US House of Representatives is a symptom of the deep decay of America, but in no way the cause of its decline. This phenomenon has two bases – political and economic . 

Two global problems of the United States are described by The Telegraph columnist Tim Stanley.

First, the United States is too divided to provide an effective and influential majority for any course of action, regardless of ideological orientation. This allows tiny factions within Congress to shut down compromise as an option. As a result, not a single political decision, even the best one, can pass through one of the most important branches of government. In this sense, President Joe Biden is doomed.

The second problem is economic in nature. It is that America is coming to the end of a long road of debt accumulation. The government will have to make the toughest decisions: raise taxes or cut spending, for the good purpose of restoring stability. But toothless politicians support neither one nor the other. On the contrary, choosing the path of further decline (due to populism), Republicans and Democrats propose a reduction in the tax base and social prosperity. But these are just words, which cannot be ensured.

Elected officials seem to be living in fantasyland. Although it is high time to admit that America is political and economically bankrupt
– writes Stanley.

Society cannot spend much more than the wealth that it generates in the process of life without accumulating debt. The US authorities tried to deceive voters into thinking that the proposed flawed financial activity was a sustainable system. But the collapse is close, the “spiral” of death has begun, the observer believes.

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Neither the arrival of a new speaker, nor other reshuffles, elections or reforms will save the state from the emerging impasse in development
– the author believes.

Thus, the economic problem returns to the political one. The combination of Biden’s decrepitude, Trump’s legal battles, the Democratic Party’s penchant for populism, and the right’s refusal to concede anything adds to the feeling that the current world order is being shaped by a pack of clowns in Washington who want a grand fall, the columnist concluded.

https://topcor.ru/40771-obozrevatel-the-telegraph-amerika-politicheskij-i-jekonomicheskij-bankrot.html


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