2012 U.S. Election Result: GOOD for the rest of the world, but BAD for America?

[Guest]

Most Europeans I know are pleased about the result; most Americans of my acquaintance, though, are much less sanguine.

Romney's lack of a foreign policy and failure to address any issue other than the economy was very worrying from a European perspective; but if I was an American taxpayer - especially if I happened to be in my teens/20s - I'd be very worried about the future. The country is saddled with an appalling level of debt and I'd know that it would be me - not the my parents/grandparents - who would be charged with the task of clearing it off.

What this points to is fairly obvious and predictable: the election of a fiscally ultra-conservative government in the near future (maybe in as little as four years) that will make the governments of Reagan and G.W Bush look like Marxist administrations. You can bet that their foreign policy won't be too enlighteneed, either.

So, maybe Obama will find himself adopting a few of Romney's ideas, after all? I don't think he will have any choice other than to slash spending; and he may yet have to break the news to his countrymen that they can look forward to a (maybe much) lower standard of living.

[Lateralthinking1]

Most Europeans I know are pleased about the result; most Americans of my acquaintance, though, are much less sanguine.

Romney's lack of a foreign policy and failure to address any issue other than the economy was very worrying from a European perspective; but if I was an American taxpayer - especially if I happened to be in my teens/20s - I'd be very worried about the future. The country is saddled with an appalling level of debt and I'd know that it would be me - not the my parents/grandparents - who would be charged with the task of clearing it off.

What this points to is fairly obvious and predictable: the election of a fiscally ultra-conservative government in the near future (maybe in as little as four years) that will make the governments of Reagan and G.W Bush look like Marxist administrations. You can bet that their foreign policy won't be too enlighteneed, either.

So, maybe Obama will find himself adopting a few of Romney's ideas, after all? I don't think he will have any choice other than to slash spending; and he may yet have to break the news to his countrymen that they can look forward to a (maybe much) lower standard of living.

I feel that there is a need to cut the debt. The main word for me is "gradually". It took Britain nearly 50 years to pay off its debts to the US. The standard of living rose. It isn't a bad thing to bear in mind internationally.

The generational point, often stated and conveniently so by politicians, is not one that convinces me. A considerable amount of the money in the hands of older generations should by rights be passed on to the younger generations. Circumstances will vary but economic engineering on behalf of the young is unlikely to benefit the least well-off.

I am not convinced that was is bad for America can ever be inevitably good for Europeans in a global economy.

It seems to me that there is considerable scope for a lower standard of living overall than currently. The US can return to a 1960s style economy without anyone needing to be on the breadline. However, the money needs to be fairly distributed. That has not been the case in the past, nor is it presently.

[teamsaint]

A useful start point would be look at where the debt and deficits come from.

[eighthobstruction]

I don't know what the US housing sector is doing , nor the price a US house....but the last I heard there was an awful lot of neg equity and borrowing difficult. People both sides of the pond need to feed and cloth themselves pay the utility bills BUT they need to pay the morgages and rents....morgages and rents are those things that are difficult to pay (and not paying can put you out on the street).....or if you pay morgage and rent other bills may slip....across the North and Mid West & East they get terrible cold Winters and heating is important.... and my point is?....I'm not sure, but I've written this much so I'll post....

....my point is that he has to concentrate on keeping people in a sustainable and secure mode at least....it is going to be a difficult job....he needs to get a bi-partisan approach going....

[amateur51]

Most Europeans I know are pleased about the result; most Americans of my acquaintance, though, are much less sanguine.

All the American I know are thrilled to bits that Obama is back in.

Of course if Obama doesn't make much progress in tackling the debt that'll be down to the Republicans blocking him in the House again.

[teamsaint]

its about choices, isn't it, 8thO?

What is the US government choosing to spend its , (or more accurately its peoples) money on?

[teamsaint]

All the American I know are thrilled to bits that Obama is back in.

Of course if Obama doesn't make much progress in tackling the debt that'll be down to the Republicans blocking him in the House again.

Ams, won't it be down to huge military spending, daft nuclear weapons programmes, and never ending bank bail outs,amongst other things.

[amateur51]

Ams, won't it be down to huge military spending, daft nuclear weapons programmes, and never ending bank bail outs,amongst other things.

I wasn't clear teams - I meant the rate of clearance of the debt.

You're right of course about the origins of the debt and its escalation

[teamsaint]

I wasn't clear teams - I meant the rate of clearance of the debt.

You're right of course about the origins of the debt and its escalation

Course I am right!!!that long drive and Mahler 4 very loud has got me firing on all cylinders!
But I have mentioned the "B" word, so Headmaster RM will no doubt be along very soon to put me in detention !

[amateur51]

Course I am right!!!that long drive and Mahler 4 very loud has got me firing on all cylinders!
But I have mentioned the "B" word, so Headmaster RM will no doubt be along very soon to put me in detention !

Lawks!

[Flosshilde]

So, maybe Obama will find himself adopting a few of Romney's ideas, after all? I don't think he will have any choice other than to slash spending; and he may yet have to break the news to his countrymen that they can look forward to a (maybe much) lower standard of living.

My understanding is that Obama has, broadley speaking, taken the route of increasing govt spending as a way of boosting the economy, while Gideon & co have taken the route of cutting govt spending. Of the two, I believe that it is Obama's route that has been more effective.

[scottycelt]

All the American I know are thrilled to bits that Obama is back in.

Just the one, amsey ... ?

Now, don't be silly. I don't know many Americans, but we all know the US is fairly evenly split between Republican and Democrat.

US Elections are very rarely won by 'landslides' and even when they are claimed to be an inspection of the popular vote will almost always indicate something a heck of a lot closer.

[Serial_Apologist]

For the life of me I can't think why the US cannot be self-sufficient - with climate and geography ranging from temperate to subtropical in foodstuffs, at least, for a start. Unlike Britain, I reckon America could go it alone, making goods and selling to its domestic population, and thereby building up the readies necessary eventually to pay off its debts. "Capitalism on one country", to re-coin a well-known phrase.

Leaving aside distrbution the only way to create wealth is to make things, not to gamble what wealth is made.

[Mr Pee]

All the American I know are thrilled to bits that Obama is back in.

Of course they are.....

Of course if Obama doesn't make much progress in tackling the debt that'll be down to the Republicans blocking him in the House again.

And of course it will......nothing that goes wrong can ever be Obama's fault, can it? Just blame those nasty Republicans.

[Serial_Apologist]

Of course they are.....



And of course it will......nothing that goes wrong can ever be Obama's fault, can it? Just blame those nasty Republicans.

I think you'll find your friend Simon to be in strong disagreement