Australia has to invest in long-term relationships, many of which rely on institutions that remind us of the glory days of American democracy.
A fractious and dysfunctional Congress adds to the mayhem in the run-up to the US presidential and congressional elections in November next year. It also makes it less likely the world’s greatest democracy will steer some time soon to a safe mooring between an overly hawkish approach hell-bent on antagonising China and an isolationist force that abandons Ukraine.
The ousting of Mr McCarthy reveals just how polarised Congress has become. It took just eight Republicans to unseat the controversial Speaker after he reached a deal with the Democrats to extend the debt ceiling and avoid a government shutdown.None of the 208 House Democrats chose to support Mr McCarthy when it came to the vote, even though he had braved the wrath of his party’s hard right by dropping demands for deep spending cuts to avert the shutdown. So much for reaching across the aisle.
The Biden administration has embarked on the biggest spending spree since Franklin Roosevelt. There has been almost $US8 trillion in new spending in the past few years, including the misnamed Inflation Reduction Act, the $US370 billion stimulus campaign that is feeding inflationary forces, and the Chips and Science Act, which is largely a subsidy to help US companies better their Chinese counterparts.
European democracies will be watching nervously. They can ill afford to boost their support for Ukraine, but nor can they stomach a Russian victory in a war that is effectively on their doorstep.
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