The Republican/Tea Party alliance has proven time and again, a willingness to sink the entire country in the pursuit of their narrow-minded and myopic agendas.
[Black Star News Editorial]
China, Brazil, India and South Africa are emergent countries. These countries will inherit the mantle as dominant global economic powers, individually and collectively, within the next 15 to 20 years.
Meanwhile the U.S. is being brought to a standstill due to the Republican/Tea Party alliance. With their intemperate and personal attacks against President Barack Obama –“show your birth certificate,” “you lie!” “healthcare reform is going to be your Waterloo,” “we will make you a one-termer,” “you are running a Gangsta White House,” –from the day he was sworn in, the Republicans created the political environment that helped usher a group of right wing legislative fundamentalists –the Tea Party– into Congress.
China, Brazil, India and South Africa aren’t mired in budget crises. These countries are not debating debt ceilings and whether the government will be able to pay financial obligations to citizens, including seniors, or to pay the salary of their troops.
These countries are, generally speaking, discussing how to “cool of” their economies and how to control production and consumption of goods and services in order to temper inflationary pressures. Their economies are growing at either rapid or steady paces.
Why is this?
Generally speaking, these countries still make the kind of investments that warm up economic engines and allow them to remain competitive and relevant in the 21st century and going forward.
These countries invest massively in education, including in the sciences. These countries invest in the building of their infrastructure and national communication and telecommunication network. They subsidize exporters who create jobs and sell products to the outside world. The government in these countries work in the interest of the public good because they want to remain competitive with the rest of the world and, indeed, to gain an advantage.
The United States instead is gripped in paralyses and self-cannibalization.
Lawmakers, especially those from the Republican/Tea Party alliance, have been neutralized as individuals who can serve the national interest. The alliance –and the entire United States– is held hostage to the Luddite-like whims of the Tea Party.
While the economies of China, India, Brazil and South Africa are occasionally overheating, the Republican/Tea Party alliance was willing to shut down the U.S. government this past Spring. One wing of the party wanted tax breaks for the rich to continue even as the debt-ceiling crisis loomed. The fundamentalist wing, the Tea Party, wanted no deal at all believing it’s the best way to collapse President Obama’s presidency. So what if the entire house burns in the meantime?
While China, India, Brazil and South Africa are steadily moving ahead, the Republican/Tea Party alliance forced the nation into an ugly debate. The debate –or lack of it– exposed to the entire world that the U.S. no longer inspires the political and economic confidence and stability that had given it absolute advantage. Without that confidence the U.S. ceases to be the global bank of choice for the world’s financial surpluses.
China holds nearly $1.4 trillion in U.S. Treasuries and Japan $900 billion. Going forward, watch as these countries try to diversify their portfolios, putting more pressure on the U.S.
At the end of the acrimonious grandstanding –the Republicans demanded that the wealthy preserve their riches while the working class and poor pay for the damage created by the George W. Bush deficit and unpaid wars– a destructive “deal” was concluded.
Many sober economists predict that with the scaling back and reduction of government spending –rather than investing trillions into economic activity that will create jobs– unemployment is likely to remain high or even worsen.
Coupled with proposed cuts to services, pressure on the poor and working class may eventually create some social upheavals; the country caught some glimpses as Republican governors and lawmakers around the country launched attacks on public employees’ unions earlier.
Meanwhile China, Brazil, India and South Africa engine forth.
The Republican/Tea Party alliance has proven time and again, a willingness to sink the entire country in the pursuit of their narrow-minded and myopic agendas.
