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Paul Kennedy posits that continued deficit spending, especially on military build-up, is the single most important reason for decline of any great power. The costs of the wars in Iraq and Afghanistan were as of 2017 estimated to run as high as $4.4 trillion, which Kennedy deems a major victory for Osama bin Laden, whose announced goal was to humiliate America by showcasing its casualty ...
In the United States, government shutdowns occur when funding legislation required to finance the federal government is not enacted before the next fiscal year begins. In a shutdown, the federal government curtails agency activities and services, ceases non-essential operations, furloughs non-essential workers, and retains only essential employees in departments that protect human life or ...
The 2011 S&P downgrade was the first time the US federal government was given a rating below AAA. S&P had announced a negative outlook on the AAA rating in April 2011. The downgrade to AA+ occurred four days after the 112th United States Congress voted to raise the debt ceiling of the federal government by means of the Budget Control Act of 2011 on August 2, 2011.
A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Just 10 days ago, anxious markets were freaking out about the US economy ...
By 2020, the United States will have been allied with Turkey and Japan for over 75 years. However, in the years after the end of the Second Cold War and collapse of Russia, the United States will gradually become uneasy as Turkey and Japan expand their military power and economic influence. Establishing regional spheres of influence, Turkey and ...
After America: Get Ready for Armageddon is a non-fiction book authored by socio-political commentator Mark Steyn, being published in 2011 by Regnery.In the work, he asserts that the United States has placed itself onto a trajectory towards decline and eventual collapse due to different trends in its history, a path that he states has been set out previously by other nations of the Western world.
In turn, the Americans launched the American Revolution, resulting in an all-out war against the British and independence for the new United States of America. The British tried to weaken the American economy with a blockade of all ports, but with 90% of the people in farming, and only 10% in cities, the American economy proved resilient and ...
Exactly 141 years ago at high noon, time changed forever in America. In Boston, time moved forward 16 minutes. In Baltimore 6. New Yorkers lost about 4 minutes.