29
Jul
2005

Bush, China, Two Deficits, and the Ongoing Decline of US Hegemony

by Paul Street

How about that wild and wacky world capitalist system? The United States is clearly the world's "hegemonic" military power. The U.S. government's capacity for "forward global force projection" is stupendous and its imperial "defense" budget" matches the combined military expenditures of all potential enemy states many times over. Things are a little different in the economic sphere, however, and all the money the U.S. is spending on militarism and empire is part of the problem for Uncle Sam...

//www.dissidentvoice.org/July05/Street0728.htm
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