How Republicans Blew Up the Debt and Put the Dollar—and America—at Risk
GOP tax cuts created deficits, enriched elites, and forced America to borrow from itself. Now the dollar’s global role is collapsing—and the world is adapting.
#bondMarkets #BRICS #deDollarization #dollarDominance #globalFinance #GOPEconomics #IndependentMedia #interestPayments #paidLeave #progressiveEconomics #Sanctions #SWIFT #taxCutsForTheRich #USDebt https://wp.me/p1OjMZ-oDG
Pluralistic: Daily links from Cory Doctorow – No trackers, no ads. Black type, white background. Privacy policy: we don't collect or retain any data at all ever period.Jan 26Pluralistic: Trump and the unmighty dollar (26 Jan 2026)
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A report by the Congressional Budget Office on the soaring US government debt has raised questions as to how long the dollar can continue to function as a stable base for the global monetary system.
"But the bigger question is how these different forcefields of power and policy fit together. How does a world function in which dollar hegemony is entrenched, security policy drives the formation of antagonistic blocs, the pattern of real economic activity is increasingly multipolar and the major issues of global public goods - climate and public health - go systematically unaddressed?"
"It is not coincidental that the dollar system and the Fed, one dimension of American world-ordering that is very much intact, is also relatively insulated from its partisan politics."
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