Monday, January 9, 2012

US presidential candidates confront the "three highs"

In conjunction with the previous post on Deng Xiaoping, this from the People's Daily Online. The emphasis on financial probity versus demands for relief by workers and their oppressed allies underlines the political trajectory of the CPC leadership strikingly. Indeed, it is hard to imagine a less Marxist article about the current state of US politics.

US entering era of uncertainties
By Sheng Dingli (People's Daily)
January 09, 2012

Edited and translated by People's Daily Online

The U.S. presidential election has begun. No presidential aspirants can bypass the "three highs" challenges right now—high unemployment rate, high deficits and high national debts. To some extent, the "three highs" is originated from the country's political and economic policies and its inherent system, which just appear more noticeable in the new century.

It is beyond the power of any American to remedy the difficult situation. Incumbent President has both obvious advantages and disadvantages in office. If the unemployment keeps high in the first 10 months this year, Barack Obama might well be a "one term president". If it keeps improving, then a strong Republican challenge is hardly possible.

The seeming economic and financial problems of the United States are deeply rooted in its politics and society. It is imperative for the U.S. to identify where it goes wrong and finds out solutions.

It is a common knowledge that increasing revenues and reducing expenses are the remedy for financial difficulties. But the political polarization prevents a consensus on an agreement. And with the growth of global economy, the Americans are finding it really hard to maintain its overwhelming superiority in economic production and military budget.

But the republicans, who turn a blind eye to the need for financial balance, are intent on keeping the giant size of military expenses. This is hardly acceptable to the democrats. And the democrats' persistence in increasing public expenses regardless of huge deficits is equally unacceptable to the republicans.

Their only consensus, if there is, might be shyness in increasing revenues for fear of ruffling voters' features. In terms of decision making, the United States is stepping into an era of uncertainties.

However, its predicament is an inevitable result of the times. Globalization yields U.S. huge wealth which, however, is distributed among its people in an improper and damaging way to its social bond. And the country's gratuitous use of violence repels.

Globalization brings about chances to other counties and leads to erosion of the U.S. advantages. The presidential aspirants are common in their ambition to lead the country to prosperity and security, but differ definitely in specific methods, some of which are likely to be self-defeating.

If the United States can fix the defects in its system, then the uncertainties surrounding its decision-making, domestic and foreign affairs, especially in the economic field, will be dramatically reduced and most of its people will benefit from wealth growth. However, due to its existing political division, there is a long way to go.

emphasis mine

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