Whilst the outcome on Election Night was clear – a decisive victory for Tony Abbott and the Liberal-National Coalition – the likely outcome in the Senate where various minor and micro-parties with specific agenda have won seats, has raised myriad questions about the fate of the incoming government’s policy programme.
As President Barack Obama struggles to build consensus in Congress for a resolution authorising a military strike on Syria and Bashar al-Assad’s regime, he must simultaneously brave himself for a new round of fights with Congress over raising the debt ceiling. This ongoing battle, which has permeated Obama’s first term and a half, will surely last the remainder of the President’s second term. Key to any successful increase to the debt ceiling – the legislative cap on the amount of national debt that can be issued by the U.S. Treasury – is House Speaker John Boehner, who has been beleaguered by internal divisions amongst his colleagues over strategy and policy as they seek to engage the President to further curb the ballooning budget deficit.
Whilst Australia was still in the throes of post-election analysis and commentary, The Melbourne Globalist met with respected economist, author and commentator, Dr. H. Woody Brock. A Harvard and Princeton educated economist, founder of Strategic Economic Decisions and acclaimed author of ‘American Gridlock: Why the Right and Left Are Both Wrong – Commonsense 101 Solutions to the Economic Crises’, Dr. Brock spoke on myriad issues, from good and bad debt, the ‘fairness’ of wealth distribution, and the state of academia.