Stewart Munn: Bill Clinton is right to use the UK economy as a warning of what can happen if deficit spending is cut too severely. If Republicans get their way in the ongoing deficit negotiations, America’s economy could be headed for a long, painful spell. US politicians should take heed.
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Rüdiger Lentz: In US presidential elections, Europeans tend to overwhelmingly support the Democratic candidate. Yet, Europe misplaced its bets in both 2000 and 2004. The qualities that Europeans value in a US president are not the same ones that matter to Americans. Europe should tone down its expectations, and come to terms with the possibility of another GOP presidency.
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The biggest danger to Obama’s re-election bid is the possibility of the European crisis spilling over to the US. ++ While the US economy is starting to show signs of gradual recovery, mounting European debt could send the American economy in a downward spiral. ++ Republican presidential candidates will use this opportunity to chastize Obama as ‘too European’ for trying to bring the US closer to a
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As the bipartisan “supercommittee” prepares to find ways to cut the deficit by $1.5 trillion, Democrats are proposing tax increases for America’s highest earners. ++ Instead of raising taxes, legislators should focus on cutting US defense spending. ++ The national debt cannot be reduced without making serious cuts to the US defense budget. ++ National security depends more on a healthy economy
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Obama’s election worried those who fear creeping socialism. ++ Today’s democratic socialism has little interest in nationalization and abolishing the private market. ++ It aims to humanize and democratize capitalism, allowing free education, state funded health care and better financial regulation. ++ Conservatives scrutinize Obama’s stimulus plan because his vision for a more
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Republicans are very slow to understand that their policies have worked against America. ++ Their illusions are reflected in their doubts over the President’s stimulus plan: they argue that it legitimates excessive spending at a time when the continuous shedding of labour requires conservative spending. ++ G.O.P policies which redistributed wealth to those on the top of the income ladder
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President Obama has introduced a new stimulus plan to revive the US economy. ++ While the plan aims to reduce tax payments by $300 and provide relief to both families and business, US officials warn against the unnecessary spending that usually accompanies tax cuts. ++ While the complete plan has yet to be worked out, the Obama administration has characterized it as ‘ideologically
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The rejection of the rescue package, led by Republicans, proved the incompetence of US leadership. ++ Most members of the G.O.P. still believe socialism poses the biggest threat and disregard that today’s economy experiences huge cycles of bubble and burst due to global capital flow. ++ Greater authority is needed. ++ The Congressional plan is not perfect, but it would have stabilized the
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