你好, 访客 | 登录 | 免费注册

Lexington: Bargaining and blackmail

作者: 未署名
   
收藏


How the Republicans’ intransigence on tax increases might rebound against them

IT IS tempting to resort to cliche: a Martian parachuted into Washington, DC, this summer would be utterly bemused by the antics of its political class. But you do not need to be an alien. Even veteran observers of the nation’s capital are scratching their heads. On the face of it, the most powerful country on the planet, having only just recovered from a self-inflicted financial calamity of epic proportions, is marching towards another self-inflicted financial calamity of epic proportions. Unless Democrats and Republicans close their differences on taxes and spending, and Congress votes to increase the federal debt ceiling, the United States may default on its debt, an eventuality with incalculable consequences for the world economy as well as America’s.

The very direness of this possibility has produced a certain insouciance. The smart money bets that it will not happen. Investors are still buying America’s debt, no doubt because they assume that, for all the theatre, its politicians are not mad enough to jeopardise the full faith and credit of the United States. When last week the debt negotiations between the Republicans and Joe Biden, the vice-president, collapsed, the market took even that in its stride. Now that Barack Obama has taken charge, it is surely only a matter of time—the Treasury’s deadline for averting a default is August 2nd—until the inevitable compromise emerges. ...

full_print_edition?d=yIl2AUoC8zAfull_print_edition?i=a00QGiuORAU:j5PZkKxfull_print_edition?i=a00QGiuORAU:j5PZkKxfull_print_edition?d=qj6IDK7rITs
a00QGiuORAU

课本信息
作者: 未署名
发布者: yibei
 
创建时间: 2011-06-30
更新时间: 2011-07-12
版本:
1
 
编辑评分:
用户评分:
 
课本条目: 0个
 
发布状态: 已发布
访问权限: 未知
 
书集: The Economist: Full print edition
知识库: 英语单词