United Only By Failure
Democrats and Republicans in America are unable to find a common denominator, so their negotiations on how to reduce the nations deficit have failed. In a global crisis, the absence of the United States as an effective partner is a heavy blow.
In the end, the negotiation leaders at least were honest and agreed on one thing — their own failure. It was feared that it would all end in empty rhetoric in which the truth would be glossed over. No, in today's Washington there are no common denominators between Democrats and Republicans — not even tiny ones. Despite being economically urgent, they aren't able to agree to measures that reduce the debt. One year prior to the next presidential election, the United States is definitively and effectively paralyzed. What is already clear is what America can expect to accomplish before election day in 2012: not much.
Of course, the disaster had been sending clear signals long enough that it didn't come as any surprise. Nonetheless, it had produced a naïve hope in many that the suffering caused by record debt, record unemployment and a looming threat of yet another downgrade in the U.S.'s credit rating would be enough to bring the politicians to their senses.
After all, the political trench warfare had already driven the country to the edge of the abyss three times this year alone: Twice the government was faced with shutdown because of lack of funds, and once Washington came perilously close to declaring national bankruptcy. In all three cases, compromises that at least prevented the worst from taking place were found just at the last minute. But the ideological chasm between the parties was never overcome. That was primarily the fault of the Republicans, who had sworn fealty to a fiscal fundamentalism that allowed for no wiggle room. And the Democrats held fast to their own taboos. But who wants to make compromises with an enemy who he believes is walking into a trap?
The disappearance of the U.S. as a competent negotiating partner does great damage in the fight against the global economic crisis. The country is likely to be so preoccupied with the approaching presidential election that it will be rendered useless in playing a constructive and leading role. That's not good news for Europe. Even amid the schadenfreude caused by seeing the know-it-all United States caught deep in the same mess, America and Europe can only dig their way out of the hole together.
Hurray! The super committee failed! Those were the celebratory words on the committee's failure from Nobel laureate Paul Krugman this weekend. Without agreement, there would also be no cuts — and those would be fatal for the economy according to the Keynesian economist. But it isn't that simple, because until now there has been no indication that failure will result in automatic budget cuts. Krugman's analysis, however, is noteworthy for a completely different reason: It's not just one economics professor, but the entire nation has been seized by naked cynicism. America's political system has de facto ground to a halt.
In the end, the negotiation leaders at least were honest and agreed on one thing — their own failure. It was feared that it would all end in empty rhetoric in which the truth would be glossed over. No, in today's Washington there are no common denominators between Democrats and Republicans — not even tiny ones. Despite being economically urgent, they aren't able to agree to measures that reduce the debt. One year prior to the next presidential election, the United States is definitively and effectively paralyzed. What is already clear is what America can expect to accomplish before election day in 2012: not much.
Of course, the disaster had been sending clear signals long enough that it didn't come as any surprise. Nonetheless, it had produced a naïve hope in many that the suffering caused by record debt, record unemployment and a looming threat of yet another downgrade in the U.S.'s credit rating would be enough to bring the politicians to their senses.
After all, the political trench warfare had already driven the country to the edge of the abyss three times this year alone: Twice the government was faced with shutdown because of lack of funds, and once Washington came perilously close to declaring national bankruptcy. In all three cases, compromises that at least prevented the worst from taking place were found just at the last minute. But the ideological chasm between the parties was never overcome. That was primarily the fault of the Republicans, who had sworn fealty to a fiscal fundamentalism that allowed for no wiggle room. And the Democrats held fast to their own taboos. But who wants to make compromises with an enemy who he believes is walking into a trap?
The disappearance of the U.S. as a competent negotiating partner does great damage in the fight against the global economic crisis. The country is likely to be so preoccupied with the approaching presidential election that it will be rendered useless in playing a constructive and leading role. That's not good news for Europe. Even amid the schadenfreude caused by seeing the know-it-all United States caught deep in the same mess, America and Europe can only dig their way out of the hole together.
Hurray! The super committee failed! Those were the celebratory words on the committee's failure from Nobel laureate Paul Krugman this weekend. Without agreement, there would also be no cuts — and those would be fatal for the economy according to the Keynesian economist. But it isn't that simple, because until now there has been no indication that failure will result in automatic budget cuts. Krugman's analysis, however, is noteworthy for a completely different reason: It's not just one economics professor, but the entire nation has been seized by naked cynicism. America's political system has de facto ground to a halt.
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