The Next decade? Toxic politics promises to make economic matters much worse than even today, according to those fine people at Marketwatch.
“The U.S. economy appears to be coming apart at the seams,” warned Columbia Prof. Robert Lieberman earlier this year in Foreign Affairs.
Now, over at Foreign Policy magazine, Josh Rogin warns: “This Fight Ain’t Over: Think the debt ceiling gridlock was ugly? Congress is just getting warmed up. Here are eight more foreign-policy battles right around the corner,” when they get back to sinking the economic recovery even deeper this fall.
All this was punctuated last week by S&P’s downgrade of the U.S. credit rating, as well as the one-day, 513-point market drop into a double-dip recession.
Another Foreign Policy expert, James Taub, warns of what the “debt-ceiling deal tells us about the Tea Party’s grim vision of American power.” There’s a disaster ahead, Taub writes: “All Guns, No Butter … depleting the national treasury to pay for the military … when many Americans want to reduce the role of government at home and especially abroad, the debt deal just concluded is likely to preserve the country’s hypertrophied defense budget, at least if congressional Republicans get their way.”
Mitch McConnell, the GOP’s Darth Vader, is doing just that, doubling down on his vow to make certain Obama is a one-term president, intentionally ignoring the collateral damage, killing economic recovery…
Read more about this at http://www.marketwatch.com/story/2011-2020-ten-years-of-us-economic-hell-2011-08-08
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