Playing Games with American Power Posted by The Editors

This post by Nina Hachigian, who is a senior fellow at the Center for American Progress.

Yesterday, the House Republicans staged a vote--predetermined to fail-- on a measure to increase the U.S. debt ceiling.  Nothing unusual here; this is standard political brinksmanship on Capitol Hill.

Unfortunately, this is not a standard political issue.  American power and world economic stability are at stake.

The entire global financial system depends in large measure on faith that the U.S. government can and always will repay its debts.  Any suggestion that it cannot can roil the markets. Realizing this, Republicans could have cancelled the vote.  Instead, they attemped to reassure Wall Street executives that it was all just a piece of theatre, not a real indication of Congress's inability to solve this problem.

But it is not wise to toy with a significant source of American power.  America enjoys the unique privilege of having its currency act as the world's reserve.  Every political circus act on the debt gives ammunition to those (often from emerging powers like China and Brazil) who are calling for the world to become less reliant on the dollar, and eventually to replace it with another reserve currency. While there is, at present, no attractive alternative, and some economists think a switch to another currency would be a net positive for the U.S. as it would force us to live within our means, such a move would take away advantages Americans have long grown accustomed to, and the transition would likely be very, very painful.  And, more immediately, some analysts predict that a failure to increase the debt ceiling could send the U.S. back into a recession.

Congressman Paul Ryan now says he is "serious" about not raising the debt ceiling unless the Republicans get exactly the untenable budget cuts they are demanding, though he earlier admitted that a government default was "unworkable."

Congress, the rest of the world can hear you. Please stop posturing and treat this issue with the gravity it deserves.

Comments

[Asics Shoes]

I really love to read this post and I am glad to find your distinguished way of writing the post.

[Cheap Jordan]

I have a problem with strange but they make up the world

[Office 2010]

rdhtdshrteu6ydytduiyetret It's so nice to see you crafting and posting again! I think the knitted pizza slice really completes the set - so cute! Fun to see crochet and knit together, so few people are interested in both, it seems!

[R4i SDHC]

American power and world economic stability are at stake. The fact is we never really know what they are until someone puts it right in our faces. I appreciate your efforts.

[Bead Pandora]

I will definately post a link to this post on my website. I’m positive my followers will find this article really useful.

[sexy adult costume]

china really hope its currency can be another global currence, i think that is the wise choice. depent largely on USD has too many defects, besides, USA force China to raise YRM everyday.

[MBT Sale]

where did you get this information can you please support this with some proof or you may say some good reference as I and others will really appreciate.

[custom term papers]

thanks for the pot) very interesting information)))

[Jennah Smith]

really interesting information.

PMS Relief

[London escorts]

American Power Lies in the Economy. The Economy-Wrecking Power Of the American Power Act. The American Power Act will transform our economy.

[Micro SD Card]

Nice post.Thank you for taking the time to publish this information very useful!

[pandora bracelets]

it seems prophetic until you look at Detroit and the history of the working man in these companies. The energy, the rawness and the distortion capture a lot of ang

[Vibram Shoes]

Yuan tactic" create a consistent method of their practice Kendo! Ye Yi woke up the next day afternoon, this time he slept for two full day and night! Wake up, strange things are no longer head

[knockoff handbags]

what you say is so good .thanks.

[replica handbags]

get.what you say is so good .thanks.

[Ringring]

Forgive me, I didn't read this passage patiently. My heart is full of sorrow and sadness. I didn't work for about 6 days and today I have to return to my job. In fact, I don't want to write anything, I don't want to say anything and I even don't want to think anything.
cheap new converse shoes

[dreambox sky]

I Agreed with what you have said and this blog has helped me a lot to better understand legal and judicial issues. You had write here such an good Content.

[hydroponics]

Its all about the financial system and the American power and world economic stability.I really like to read the things very much.

[Quinceanera Dresses]

It is awesome. the information in your article is incredible and is useful for us.we know the product details

[discount herve leger]

The article is worth reading, I will share with my friends. discount herve leger it namely about an momentous entity. But it namely fact occured in our life, Tods 2011, fair trust it. It is a excellent newspaper for everyone. In September 1998, paul smith designer, herve leger dress were acquired by group from the Seagram’s Group. In April 2007, designer max azria relaunched the cheap herve leger dress under his own devise instruction. His fall 2009 collection traits several dark herve leger bandage with sequins, Paul Smith shop online, which creates a alter textured feel because the dresses. herve leger skirt was warmhearted greeted by people at the beginning. herve leger 2011 designs are a modern interpretation of the signature bandage herve leger dress and have yet earned a cloud of stylish somebody fans including kate bosworth and keira knightley. herve leger discount dress apt make your cice to go in the vogue front. herve leger dresses cheap the formation of a trbring an end to ... the distraction manufacture, Tods outlet, the trend of the wind out of the entertainment industry has affected the people who adore fashion. Find your own strapless herve leger? Heart not as good as action! Why not to take this contingency to purchase a discount herve leger dresses, tods bags!

[flexible circuits]

I have gone through your bolg, I will visite your blog on my free time. By the way, do you need
metal dome
snap dome
metal dome array
dome sheet
metal dome
dome array
snap dome
round metal dome
cross metal dome
triangle snap dome
oblong snap dome
one key metal dome array
custom dome array
for membrane switches? and
flexible circuits
flexible pcb
printed circuit boards
pcb
flexible circuits
printed circuit boards
aluminum pcb

[Leight earplugs]

The thing is all about the Global financial system with the US Government.Which contains the significant source of American power.These all things are really very informative and interesting too.

[christian louboutin]

Your comment has been posted. Post another comment

[women jordans]

Your blog is great. Your thoughts are also very good and i am very inspired from your post. That is why I visit this blog again and again and will come back in future too. Thanks

[nike dunk sb]

It really is indeed amazing to study your report. I enjoy your style.

[Louboutin Pumps]

Read your article is very happy.Thanks.

[gucci on sale]

I think one of your advertisements caused my internet browser to resize, you might want to put that on your blacklist.

[Cheap Griffey Shoes]

I was in low spirits before,but now i read your writting,i feel a little better!

[Office 2010 Product Key]

Your blog is great. Your thoughts are also very good and i am very inspired from your post. That is why I visit this blog again and again and will come back in future too

[Pandora Canada]

Your blog is so great.

[wholesale knockoff handbags]

great! I like it

[แทงบอล]

แทงบอล | poker

[sbobet]

sbobet | แทงบอล | แทงบอล

[Pandora Bracelets Charms]

To a large extent, this post that has explained some contents very carefully and totally. It really contains a lot of aspects of something that we are very eager to know and are very necessary to us in our daily life. Firstly , this post can do its best to tell some points of products very truly and believeable, which is some posts can't do well. Secondly, this post can consider something important from our buyers stand, which is very helpful to our life ,work, and so on. Last but not least ,the most important respect is that it can lead us to know right and total news,and tell us what perfect things really are. From the bottom of my heart , we really need this excellent kind of posts and we will obtain more and more beneifits than ever before. Thanks a lot!

[Microsoft Outlook 2010]

the us go to hell,see your mom's pig

[Thomas Sabo]

An extremely good post. This short article sums up for me precisely what this topic depends upon and some of the major benefits that can be resulting from knowing about it as if you. A friend once remarked that you have a totally different frame of mind when you do something for real as opposed to when you’re simply toying with it. In the case of this kind of topic, I believe you adopt, or start to consider, a more professional in addition to thorough approach to what and how you write, which in turn helps you to carry on and get better and help others who don’t know anything about what you have discussed here. Thank you.

[cheap air jordans]

Do we really want to bring Georgia into NATO and risk sending American sons and daughters to remote mountainous inland Asia in coming years to fight nuclear-armed Russia over a territorial dispute involving at most tens of thousands of people?

[supra shoes uk]

So is the "foreign" shot through the very best and very worst of our national life in the 21st century. Maybe for once we could avoid easy cliches about it.

[replica handbags]

i am very interest in your opinion, it is very good.

[Replica watches]

Read your article is very happy.Thanks.

[Austin Luxury Real Estate]

in addition to thorough approach to what and how you write, which in turn helps you to carry on and get better and help others who don’t know anything about what you have discussed here. Thank

[jeux de barbie]

which is very helpful to our life ,work, and so on. Last but not least ,the most important respect is that it

[promosyon]

Your site is very good. There are useful information and most importantly, for sharing great. Thank you.

[dress]

Unfortunately though, because i live in Canada it’s tough to wear such ファイブフィンガーズ shoes year round. Unless they come out with a winter boot version ofcourse (which they should). It doesn’t matter what 五本指シューズ shoes I wear it happens everytime – as soon as I take my Vibram fivefingers shoes off and do it in barefeet the pain goes away. The only problem is when I do it in barefeet I get incredibly sore knees ファイブフィンガーズ next day.

[mbt zapatos]

Si usted está buscando Prada zapatos , ha llegado al lugar correcto! En nuestra tienda online zapatozona.com encontrará Prada zapatos auténticos a precios rebajados. Compare precios, encuentre las calificaciones por categoría de la zapatería y lea las reseñas de los zapatos Prada antes de comprar. ¡Tómese su tiempo para revisar nuestro catálogo y encuentre los mejores precios imaginables de Prada zapato

[Nike Air Max]

The man with a new idea is a crank until the idea succeeds .

[Cheap Bikinis]

If you doubt yourself , then indeed you stand on shaky11 ground .

[Natural PMS Relief]

exactly cheap bikinis you are right.

[New Balance Shoes]

America enjoys the unique privilege of Timberland Boots having its currency act as the world's reserve. Jordan Shoes circus act on the debt gives ammunition to those (often from emerging powers like China and Brazil) who are calling for the world to become less reliant Kobe VI, and eventually to replace it with another reserve currency. While there is, at present, no attractive alternative, and some economists think a switch to another currency would be a net positive for the U.S. as it would force us to live within our means,

[best knockoff handbag]

I like it,thank you!

[thomas sabo angel wing]

I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post

[cheap tiffany]

I ordered this bracelet because i fell in love with it online. I thought that it was a good deal for what the description said.. when it arrived, i took it out of the box and was completely dissapointed! It's extremely small,and very light weight. i wouldnt recommend this for an adult. this is a childs bracelet. wish i could get my money back.tiffany jewelry

[mercurial soccer cleats]

The first part of what the President said is sort of boilerplate: we won't impose democracy or our system of government on another country, yada-yada, even when we do.

[Nike Air Max]

Thank you so much ,i am feeling so nice after reading your article!

[porno izle]

So is the "foreign" shot through the very best and very worst of our national life in the 21st century. Maybe for once we could avoid easy cliches about it.

[buy north face]

I’ll be really curious about what you think of the pizzas then! Enjoy and keep me posted.

[Natural PMS Relief]

NIce and informative blog.

[Natural PMS Relief]

awesome.
like the information.

[coach bags outlet]

HHH Serving under a far more high-maintenance superior like Hillary Clinton, who with her entourage will likely seek to make her own mark on foreign policy rather than leave it to a subordinate

[Sauce]

President Barack Obama says both parties will sit down on Sunday for some hard bargaining, trying to get a deal done on by August 2nd to raise the debt limit.

[bridesmaid dresses]

HHH Serving under a far more high-maintenance superior like Hillary Clinton, who with her entourage will likely seek to make her own mark on foreign policy rather than leave it to a subordinate

[prom dresses]

The Pentagon has admitted it suffered a major cyber attack in which thousands of files were taken by foreign hackers.

[chaussures puma]

We always have time enough , if we will but use it aright.

[Natural PMS Relief Treatement]

awesome.
like the information.

[Bacterial Vaginosis]

that is right.

[Bacterial Vaginosis]

that is right i agree.

[replica handbag]

thanks for makin me want to diet as i sit here eating a bag of chips

[drebeats]

Thank you so much ,i am feeling so nice after reading your article!

[cheap north face]

Very good comment. The other day I used to be educated about this website and wanted to let you realize that I have been pleased, through his messages. I'll be signing up to feed blog and is expected next post.

[monster beats]

The best kind of friend is the kind you can sit on a porch swing with，never say a word，and then walk away feeling like it was the best conversation you've ever had.

[Cheap Beats By Dre]

what I loved about last summer. Thank you for that. (And now it's making me consider strongly when I might do another one.

[Sac Longchamp Soldes]

Sa pratique soulève le style chic. Les périmètres à l'intérieur des sacs Longchamp Sac
Sac Longchamp Soldesen cuir matériels ont basé bords de sauvegarde ainsi que les poignées sont assez forts. L'extérieur de poche substantielle de taille est en fait la conception sensible. Le mélange chic de design et de style et de fonctionnalités est préférable meilleure qualité supérieure fournis par bagages Longchamp goods.Longchamp bagagerie est à votre style Sac Longchamp Pas Cher
Sac Longchamp Le Pliageapproprié, la tendance aujourd'hui mais le profit de ces sacs sont beaucoup plus co?teux que n'importe quelle marque personnalisée.

[beats dre studio]

Looks great feeling.

[dr dre solo]

Great article.

[pregnant with bacterial vaginosis]

this is awesome.
everyone should read it.

[tim]

222

[christian louboutin outlet]

American power and world economic stability are at stake. The fact is we never really know what they are until someone puts it right in our faces. I appreciate your efforts.

[chaussures femmes]

We have gotten many great comments from our customers and earn a good reputation in foreign makerts, more than 90% customers are satisfied with our products and service, till now our online members are beyond 80,000. As of right now, we Replica Handbags currently serve customers from over 18 countries, and we are still growing. We really hope to expand our business through cooperation with individuals and companies from around the world.

[wholesale designer handbags]

good!thanks!

[women jordan heels]

I support your opinion entirely,and will follow the further post,thks anyway

[sex video chat]

Hello,

I think the knitted pizza slice really completes the set - so cute! Fun to see crochet and knit together, so few people are interested in both, it seems.
Thanks

[Lebron VIII]

But as opposed to missing out over a wonderful stroll by sitting within a cart vehicle, these electric

[knockoff handbags]

Thanks for the insight. You are absolutely right.

[knock off handbags]

Thanks for the insight. You are absolutely right.

[moncler down jackets]

A real lot of useful info here!These are all great comments here. Very cool article.

[background check]

this is such a great article! I specially love this part "Every political circus act on the debt gives ammunition to those (often from emerging powers like China and Brazil) who are calling for the world to become less reliant on the dollar, and eventually to replace it with another reserve currency. While there is, at present, no attractive alternative, and some economists think a switch to another currency would be a net positive for the U.S. as it would force us to live within our means, such a move would take away advantages Americans have long grown accustomed to, and the transition would likely be very, very painful" more power