By Mr. Curmudgeon:
President Obama’s re-election has sealed America’s economic fate. The world is now weighing in on America’s financial fall – and its eventual effect on our military’s ability to protect American interest overseas.
The Philippines, which suffered under Japan’s cruel occupation during World War II, is signaling it supports that nation’s rearmament as a counter weight to China’s growing economic and military might.
“We are looking for balancing factors in the region and Japan could be a significant balancing factor,” Philippines Foreign Secretary Albert del Rosario told the Financial Times.
Meanwhile, the man expected to become Japan’s next prime minister, Shinzo Abe, “has said he wants to revise the country’s pacifist constitution, imposed by the US after the [Second World] war,” reports Agence France Presse.
You can’t blame America’s Asian allies for feeling a little nervous. As the old saying goes, “Lend someone a little money and you’ve got a debtor. Lend them a lot of money and you’ve got yourself a partner.” America’s financial straits and impending fiscal-cliff defense cuts may threaten our ability to project power, but our massive debt to China makes it less likely we will bite the hand that feeds us. That’s not what partners do.
New Years Day, America changes. John Boehner’s Republican House will pass a budget that raises taxes, leaves entitlements unscathed and raises the debt ceiling. Government spending will continue to mask the decline in US GDP, and the media will continue feeding the American people the fiction that we are in a recovery … sluggish though it may be.
Obama’s clueless supporters will no doubt miss the irony that the modern entitlement state begun under Franklin D. Roosevelt may be responsible for the future rearming of Japan. FDR called Japan’s attack on Pearl Harbor a day of “infamy.” That term can easily apply to March 4, 1933 … the day Roosevelt took the oath of office and launched the New Deal.