America’s recent crisis, a probable default, is not only affecting our nation but nations around the world. The possibility that America may default its debt may “set off global financial trouble and undercut fragile economic recoveries in many countries.” After the global recession set by the US in 2008, many fear another economic catastrophe. John A. Boehner, the House speaker, has stated that “his republican members would not accept a clean bill.” Without a compromise, the potential default looms closer. As Alexander Lambsdorff from the European Parliaments says, “[N]o democracy works without compromise, and if compromise starts to be elusive, then a democratic system has to rethink itself.”
By Christina Law
Source:Â http://www.nytimes.com/2013/10/08/us/politics/default-threat-makes-impasse-in-washington-a-global-fear.html?_r=0
The back and forth over the shutdown.
