The Obama administration’s plan to crack down on US tax evasion not only targets corporations but also powerful lobbies that helped draft the legislation which made it easier for big businesses to evade taxation. Groups including the Business Roundtable, the US Chamber of Commerce, and the National Association of Manufacturers, formed a lobbying coalition called Protect America’s Competitive Edge. This lobby aims to defeat the President’s tax proposals, and openly threatens the government with outsourcing jobs if such legislation is enacted. Earlier, business lobbyists successfully ruined an important housing bill that could have “prevented 20 percent of foreclosures, at no cost to taxpayers.” (Huffington Post)
Cold War Origins of the Somalia Crisis and Control of the Indian Ocean (May 3, 2009)
May 19, 2009The mainstream media coverage of Somalia mainly focuses on the escalating piracy issue, but fails to provide an in-depth understanding of its root causes. The crisis in Somalia results from years of US interference in its internal affairs to implement the “Carter Doctrine.” The US “cleaned” Somalia, and to a larger extent the Horn of Africa, of a pro-Soviet tilt and set up military bases to secure a region that contains more than two-thirds of the world’s oil. The US and NATO largely use the “pirate threat” to legitimize the deployment of their navy in the Indian Ocean. This enables them to control trade and reduce the naval presence of competitors such as Russia and China. (Dandelion Salad)
Worries Rise on the Size of US Debt (May 3, 2009)
May 19, 2009During the first quarter of 2009, the US federal deficit exceeded the highest record since World War II. The Congressional Budget Office projects that US household debt will rise to 51 percent of the GDP in 2009 and the US administration will need to borrow around US$ 2 trillion to fund its budget. As foreign countries become increasingly reluctant to buy US treasury bonds, the US government hopes to find a sustainable way to finance its deficit-driven budget. The concern rests on the government’s ability to pay on its debt obligations without defaulting or jeopardizing future generations. (New York Times)
Neocon Fantasies of Empire Crushed: the New Global Reality (April 21, 2009)
May 14, 2009The US has entered a period of serious economic downturn that raises questions about the viability of US hegemony. For more than thirty years, US governments have run large budget deficits and have been living beyond their means. The capacity of the US to survive economically depends largely on foreign countries’ willingness to accept and support the US political order. The US still holds economic power as long as the US dollar serves as the reserve currency. But if other countries decide to change economic strategies and turn to a new reserve currency, this could hamper the US effort to sustain its hegemonic global influence. (Foreign Policy In Focus)
Declaration of the Belgrade Conference, March 23 – 24, 2009 (April 20, 2009)
May 5, 2009The Belgrade Forum for a World of Equals held an international conference to review the consequences of 1999 NATO bombardment against the Federal Republic of Yugoslavia. The Conference gathered 700 scientists and experts from 45 countries from all continents who agreed that NATO premeditated the attacks. The goal of military intervention was to bring US troops to the Balkans, expand NATO to the East, impose a neo-liberal economic system, and reinforce the US unipolar world order. The panelists pointed out the direct link between military costs and political crises and called for abolishing NATO and a decrease in worldwide military spending. (Uruknet)