Saturday, August 6, 2011

The S&P Downgrade: Still the Best Poliitcal System Money Can Buy?

America in Decline

by: Noam Chomsky, Truthout | Op-Ed 
 
‎'What remains of political democracy has been undermined further as both parties Composehave turned to auctioning congressional leadership positions, as political economist Thomas Ferguson outlines in the Financial Times.


“The major political parties borrowed a practice from big box retailers like Walmart, Best Buy or Target,” Ferguson writes. “Uniquely among legislatures in the developed world, U.S. congressional parties now post prices for key slots in the lawmaking process.” The legislators who contribute the most funds to the party get the posts.


The result, according to Ferguson, is that debates “rely heavily on the endless repetition of a handful of slogans that have been battle-tested for their appeal to national investor blocs and interest groups that the leadership relies on for resources.” The country be damned.'

 

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