Lifting of the pressure - US

I have been tracking the progress of the US fiscal cliff issue for the past few months and it remained unresolved at the end of the 2012 , ie last Monday  and until 1st January 2013, the US Senate approves it and only on 2nd Jan , the House of Representative accept the bill and it was finally approved by President Obama and it became a law.

The US fiscal cliff is about tax hikes and spending cuts which is totalling US$600 billion and if this matter remained unresolved by now, it could trigger a panick selling of the US stocks and other regional stocks as the expirey of the tax cuts would push US back into recession after many months of US Fed's attempt to push monetary easing measures to promote job and boost consumer sentiments.  Finally, it is over and the US and global risk sentiments have subsided and reduced substantially.

It is some thing good about two party system.  There is always a check and balance and this cuts off corruption and extremism. Unlike Countries who have been changing parties all the time or one party rules for ages. Absolute power corrupts absolutely and it is good for Governments to change hands and make the adminstration more independent, clean and transparent.

As for the US system,  there are two parties and each President can only stand for two terms even if he is very good and currently, the House of Senate is controlled by the Democrats and the House of Representative is controlled by the Republicans while the Government for the day is governed by the Democrats. Each law and bill have to go through the Senates and the Representatives for debates and approval.  This is sytem is excellent for democracy as each party gets elected and took turns to govern the Country.

If you look not far, there are Countries which is controlled by the ruling party  and also nominate the members to the House of Senate and the House of Representative  and these Senate and Represenatatives are like rubber stamps for the ruling party.  Hence, there is a break down of the check and balance equivibrium and kills independence and transparency.   A weak house means there is no house and a wild open field where the Government of the Day becomes more arrogant and autocratic.

There is a saying, the weakness of the Goodness is the strength of the wicked. So, we have to take this courage and chance to determine what is better for our future generations and strive for a much better governing system for the betterment of the future generations.

The strife for excellence cannot be wrong .

Namaste.