Last week’s tutorial raised the issue of America’s financial predicament and attempts by the government to combat the increasing financial crisis. Raising the debt ceiling seems to have had little effect upon the American economy in light of the country’s downgraded credit rating from AAA to AA status. The lowered status serves as another embarrassment to the Obama Administration, who are failing in their efforts to combat the nation’s overwhelming financial woes.
[http://au.finance.yahoo.com/news/US-loses-triple-AAA-rating-aap-3707234883.html]
For me it feels as if the “reign of America” is coming to an end, as it is hard to imagine the country bouncing back from such a colossal financial predicament. I have always viewed the United States as a vast and untouchable superpower that sets the example for the world to follow. However my perceptions of the country are rapidly changing and I am both eager and fearful for what the future holds.
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