Save the US Republic Now!
The Real News. Com / Johan Galtung
16-Apr-2011

That the US Empire is falling with the structure so laboriously built in the Middle East crumbling is clear even if there will be fall-back positions. But the US Republic is also in bad shape, with the threat of government shutdown March 5, like in 1995. Why? Because the US polity is inadequate to the challenge.And the challenge is formidable, with a US 14.1 trillion debt, 94 percent of US GDP and 7percent of a world GGP of about US$200 trillion. Small comfort that it was 122 percent after WWII: as Kenneth Rogoff points out (Washington Post, 23-02-11) the labor force was young, the USA was the world's leading manufacturer, personal savings were high, demand after depression-war was high. Result: 57 percent economic growth in six years. And there were sharp defense cuts, having won WWII.

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