U.S. & Global Partners or Global Enemies
America's Financial/Military Commitments Make Relations Important
Oct 18, 2008
The long-running American military foray into Iraq and Afghanistan coupled with the current world-wide financial and credit markets meltdown has unquestionably added to an already large body of evidence suggestive of our nation's growing interdependence with the rest of world. And according to many political pundits, we are now actually much more mutually dependent on other nations for our own stability, safety and security then ever before. Given this new reality of a multi-polar and not a unipolar world, what must the U.S. do to both compete and continue to exercise leadership in today's new globalized interconnected planet.
What to do Next About the On-Going World-Wide Financial Crisis.
In a October 16th, 2008 interview with Charlie Rose on his television program of the same name, Speaker of the House Nancy Pelosi (D-CA), the highest ranking woman in the U.S. Government seems to think that a new stimulus package along the lines of some $300 billion dollars is now what is needed to help the U.S. economy after having consulted with some of the nation's top economists and fellow democrats. However Pelosi said, "We have been told that the $300 billion is the jolt that the economy needs, but I have to balance that against being fiscally responsible and putting together a package that stimulates the economy, lead to an economic recovery, without increasing the debt so much that it neutralizes the stimulus package. And we need to move in that direction in a very green way, which includes reducing our dependence on foreign oil, using innovation to rebuild the infrastructure of America, and s we are making progress as we are creating jobs and stimulating the economy."
A $61 Billion Dollar Stimulus Package Perhaps Isn't Enough.
Apparently, economists have told Pelosi and the Democrats that what is needed to simulate the U.S. economy is an infusion of capital to the tune of 2 o 3 percent of Gross Domestic Product (or GDP), and in addition to investments in U.S. infrastructure and the like the package could include either tax rebates or permanent tax cuts that could bring any potential stimulus package to the couple of hundred billion that will be needed. Rose then asked if the current Congress would be enacting such legislation or if the stimulus package would have to wait for the next Congress? To which she replied, "Actually the package that we passed in the House before we left was $61 billion in dollars. We thought that was appropriate and we thought that was something the President would sign, He said, No. The Senate said, No. And that was due to the information coming out that we needed a bigger package, but we have already passed this $61 billion dollar package, which is lean and to the point, and would just have to gain approval in the Senate. But so far the President is not on board with this recovery package, but we think it is good, because it creates jobs in our country and gets to people, not just to institutions, but to people."
Can we Still Afford the War In Iraq?
According to Pelosi the answer is a resounding no. In her response to Charlie Rose in the same interview to the question if America could still afford living in an era of really high budget deficits she commented, "I hope not. What we are in is survival mode right now items of what has happened in the last four weeks since we had that meeting in my office with the Secretary of the Treasury and the Chairman of the Fed, a bi-partisan meeting there. We are in survival mode and we have to very much tighten our belt. We always have to subject any investment of Federal dollars to scrutiny and even more so now. Fore example we can no longer afford the war in Iraq. It is costing us 12 billion dollars a month. Pelosi went on to note that while the Iraqis sit on a surplus of 80 billion dollars, we are now making plans to remake their infrastructure, but President George W. Bush does not want to support a stimulus package to help remake America's infrastructure.
Partnerships are Needed
As the Bush Administration prepares to leave office, it is important that America look to make partnerships at home as well as around the around the world. When President Bush came into office he inherited a nation that was about evenly split in its political leanings, now it has been said that Bush has become the most polarizing President in modern history. One Bush Doctrine, the go it alone "Cowboy" diplomacy who's legacy is the Iraq war and chilly relations with Russia, Iran, North Korea, and various other nations around the globe including our European friends has not served us well. And at home governing by the 50+1 Bush/Rove Doctrine has also not served us well and according to former President Bill Clinton who said during a Fox News interview, "You want your issues, your package...something in there...to have appeal to two thirds of the people."
Financial and Security Needs Demand a New Approach
Given all of the uncertainty and instability on a number of fronts in the world today, the Bush Administration has had to reverse course on its go it alone approach. Columnist Browen Maddox in a September 2nd, 2008 column in the London Times wrote,"The current financial problems are global ones, as are America's security concerns. The new President of the U.S. and the new Congress need to take into consideration the mistakes of the Bush administration and move in the opposite direction. More openness, more co-operation domestically and internationally. America needs to stop demonizing her enemies and look for inroads to greater understanding and greater dialogue instead. Some other suggestions by Maddox were to "drop the phrase, "War on Terror," and to shut Guantanamo Bay detainee prison.
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