United States of America = Banana Republic?
On October 22nd 2009, Sen. Judd Gregg (R-N.H.), ranking Republican on the Senate Budget Committee, says that the U.S. economy faces a future as a “banana republic” if current federal fiscal policies continue. "Congress works for the next election, not for the next generation."
In April 2009, Missouri Republican US Senator Kit Bond likened Barack Obama's administration to a banana republic if they proceed to hold public trials on the issue of torture, giving the term banana republic a bimodal definition in the context of the ongoing US torture investigations.[23]
In May 2009, Paul Krugman, columnist for the New York Times, referred to the state government of California as a banana republic. He was commenting on the state's tax system, in which taxes cannot be raised even in an emergency without a two-thirds majority. The state constitution requires that the budget be balanced, denying it the ability to borrow, while gerrymandering has turned many districts in California into safely conservative or safely liberal districts, crowding out moderate political voices in both political parties, and making a two-thirds majority consensus very difficult to achieve.
In August 2009, New Hampshire Republican US Senator Judd Gregg, a one-time Obama Cabinet pick, stated the United States is on its way to becoming a Banana Republic within ten years, criticizing such programs as "Cash for Clunkers" for allegedly placing unfair tax burdens on future generations.[24]
In August 2009, Warren Buffett, chief executive of Berkshire Hathaway, used the term to refer to the risk of losing financial credibility posed by the high fiscal deficit being piled up by the U.S government.[25]
In April 2009, Missouri Republican US Senator Kit Bond likened Barack Obama's administration to a banana republic if they proceed to hold public trials on the issue of torture, giving the term banana republic a bimodal definition in the context of the ongoing US torture investigations.[23]
In May 2009, Paul Krugman, columnist for the New York Times, referred to the state government of California as a banana republic. He was commenting on the state's tax system, in which taxes cannot be raised even in an emergency without a two-thirds majority. The state constitution requires that the budget be balanced, denying it the ability to borrow, while gerrymandering has turned many districts in California into safely conservative or safely liberal districts, crowding out moderate political voices in both political parties, and making a two-thirds majority consensus very difficult to achieve.
In August 2009, New Hampshire Republican US Senator Judd Gregg, a one-time Obama Cabinet pick, stated the United States is on its way to becoming a Banana Republic within ten years, criticizing such programs as "Cash for Clunkers" for allegedly placing unfair tax burdens on future generations.[24]
In August 2009, Warren Buffett, chief executive of Berkshire Hathaway, used the term to refer to the risk of losing financial credibility posed by the high fiscal deficit being piled up by the U.S government.[25]
US has already turned into a banana republic...all the unemployed Americans (aprox. 20 million by some estimates) can go start farming bananas in the open fields of the USA!
ReplyDeleteNow if we can just figure out how to grow Bananas, in mass, here in the States.
ReplyDelete