It may seem that it's near but the US has to cut around 16% of their expenses and that's not accounting for the many wars they are going to wage in future.
Of course, it is a long term plan.
May be the next administration speed up the reforms? Or do you think that Obama is last of the US leaders?
You seem a person who is misled by the grandeur of the States, it is but a deceptive cover. All that glitters in not gold, not all that shines is perfect. The US is a flawed state. Without a great leader like in the 1920's, they will fall by the wayside of history and into the gutter!
I judge US economic system on the basis of its history and not just future projections like many here do.
I have never stated that US economic system is flawless. Of course, US have faced economic crises several times.
However, I am not quick at jumping towards conclusion. I do not fall for claims so easily.
When US economic system will start to fail in real sense, its effects will be visible clearly at global stage. Till then, no need to speculate uselessly.
You speak without reading what I have put up. I am real it's just that some like you are awed by their supposed omnipotence and are in denial
I do check every source you cite. Do you check those which I cite and learn a thing or two from them?
And I never stated that US is omnipotent. US often faces 'crises' like other countries, doesn't it?
External stakeholders will force US to reform- Americans will have to do what others demand of them including having a lower standard of living.
External pressures are important determinants. Other countries which are vital business partners of US will put pressure on US to resolve its issues. Countries are already doing this.
You think that China puts no pressure on US?
The time for 'living beyond the means' for Americans is up now.
US corporations themselves are no longer to willing to oblige Americans so much now.
The reforms you are talking about are just tinkerings.
It is start. And it confirms my point that reforms will take place. You expect results within few months?
Its quite simple really the Americans will sooner or later have to live within their means whether that be voluntarily or as you put it be forced to by stakeholders
Yes. Now you are making sense.
US is not immune to external pressure. And the game has just begun.