The United States: Debtor and Leader?

The current financial crisis in the US...which in turn, has impacted the global economy...is really only symptomatic of its crisis in governance.  Apart from the issues of big government and deficit spending, of financial regulation and matters of taxation, the core problem in the US...the root cause of its impending constitutional crisis...is its fundamental corruption.  As is said in the US, "We have the finest government money can buy!"  And due to the recent related Supreme Court decision our democratic institutions are only further threatened.

Unless the American public can rein in the disproportionate influence of large corporations, special interests and "Big Money" on our political system, we should not be looked to by anyone as a positive role model, much less global leader.          

Or ... Question re-written : May the prevailing recession and economic mis-management of USA derail its "Leadership Nation" status in the world ?  Answer : Yes, perhaps.

A Leader absorbs all its problems and difficulties within their own economy but USA distributed these to nations all over globe. They resorted to "WAR ECONOMICS" encompassing all continents destroying their scarce ( now proved ) resources and own people.

Yet some may say that USA became 'big brother', or  Mafia nation or World-Police nation ignoring U.N.O. by virtue of its so called agressive Foreign Policy but not for its economic strength. All these are debatable notions and may be discussed elsewhere.

First communism failed every body said it was bound to fail. Now we all can see the free market economy has also failed. So it is not the communism or the free market economy which is good. As far as the leadership of the world is concerned. It is a debatable issue. China does not take US overtures lying down. Their economy is socialist economy. But they have reached here where they are through following free market economy ideas. It is the mindset of people of the country which makes it strong or weak economically. Though I know I am taking the debate to slightly different direction. But one thing is sure that is no one can be a leader who is hollow inside.

USA has compromised his own future through fiscal irresponsibility. It has balloowed federal debt and a hollowed-out private sector threaten to render our nation a spent political force. Currently it is sensing that financial woes are getting too big to surmount and is wondering at what point the nation’s seemingly unlimited appetite for government spending and increasing reliance on outside funding will begin to distort its national persona. So Its not easy for USA to remail debtor and leader at the same