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America's dysfunctional political system

Business Line

America's dysfunctional political system


Time for Business Weekly to take a break from the the euro zone and give priority to the debt crisis in the US. Less than a year before the next presidential election, the United States has shown the world that its political system is dysfunctional. When the Founding Fathers designed its system of checks and balances of power it needed consensus to work. When there is no consensus, there is gridlock, and there is no consensus right now.

This happened with a Congressional super-committee this past week. The 12 members of Congress ended their talks without a deal on deficit reduction. Host Stefan Grobe talks about the impact of this with Philip Marey, Senior US Strategist at Rabobank International in Utrecht, the Netherlands. Also on the programme: the crisis in Europe, on the bond market and in Hungary.

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