Dear bloggers: Don't underestimate US budget crisis

By Du Yanghong
0 CommentsPrint E-mail China.org.cn, May 5, 2011
Adjust font size:

Another casual optimist, Mr. Shi Zhongwen, director of the Institute of Citizenship and Modern Culture at North China University of Technology, also negates any short or long term impact from a potential US government shutdown. In his blog, he writes, "Is there any substantial impact to the US after its government shuts down? No, there is none."

Both Shi and Ai argue that the US is generally well-governed, despite its political squabbles. However, they overlook the severity of the US budget situation which led to the recent Congressional budget fight.

Both Republicans and Democrats are short of effective measures to counter the enormous US budget deficit, which will reach its legal limit of $14.294 trillion by mid-May. On April 18, credit rating agency Standard & Poors downgraded the long-term outlook for US government debt from "stable" to "negative". Even though the US government will ultimately remain open, it will face enormous challenges to reverse its deficit, which will certainly lead to difficult cuts for a wide variety of government programs which benefit the lives of citizens. It also may ultimately lead to higher taxes, causing average Americans to tighten their belts even more.

The announcement of federal and state spending cuts has already aroused public anger. Washington D.C. Mayor Vincent Gray was arrested with 41 other protesters on April 11 for blocking a street near a US senate office building. As part of the bipartisan budget compromise, D.C. will lose federal funding for abortions, which protestors believed is a violation of women's rights. In Wisconsin, Governor Scott Walker's proposal to force state employees to contribute more to their health care and pension costs caused over 25,000 angry workers to converge on the state capitol. The ferocity of those protests has even drawn comparisons to the recent Egyptian and Libyan uprisings.

Yes, the US government remains open, but its economic problems remain more deep-seated than some of the Chinese literati have been led to believe. Chinese bloggers should take into account the magnitude of the challenges Americans now face before they blindly state that the US can afford to continue the status quo.

The author is a writer and commentator in Beijing.

Opinion articles reflect the views of their authors, not necessarily those of China.org.cn.

(This article was written in Chinese and translated by Li Shen.)

 

   Previous   1   2  


Print E-mail Bookmark and Share

Go to Forum >>0 Comments

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: 成人性生交大片免费看好| 欧美日本在线三级视频| 国产乱码1卡二卡3卡四卡| 亚洲成a人片在线看| 国内精品久久久久久久影视麻豆| 一级毛片特级毛片国产| 日本19禁啪啪无遮挡免费动图 | 三男三女换着曰| 日本三级特黄在线观看| 久久精品国内一区二区三区| 欧美一级专区免费大片| 亚洲欧美自拍另类图片色| 狠狠人妻久久久久久综合蜜桃| 全黄性性激高免费视频 | 国产麻豆91在线| avav在线看| 天天爽天天碰狠狠添| 一区二区3区免费视频| 成人欧美一区二区三区视频| 久久99精品久久久久久| 日本免费大黄在线观看| 久久精品亚洲综合专区| 晚上看b站直播软件| 亚洲av永久青草无码精品| 欧美性受xxxx| 亚洲成人在线免费观看| 欧美激情视频一区二区三区免费| 亚洲第一区在线| 永久中文字幕免费视频网站| 亚洲色偷偷偷网站色偷一区| 狠狠精品干练久久久无码中文字幕| 免费无码又爽又刺激毛片| 第一福利官方导航大全| 免费看**一片毛片| 窝窝午夜色视频国产精品东北| 六度国产福利午夜视频黄瓜视频| 精品日本一区二区三区在线观看| 口国产成人高清在线播放| 美国大片免费收看| 又粗又长又爽又大硬又黄| 精品视频九九九|