Factbox: When Could The Debt Ceiling Put The United States In Default?
First, the negatives. The faux laces are an abomination. Theyre the hockey jersey equivalent of basketballs short-sleeves . Those, and the shiny graphics on the shoulder, make these so-called sweaters look like T-shirt jerseys designed by Ed Hardy. Nike also cant get enough of arm stripes, which oddly appear only on the left arms of Team Canadas jerseys. Thats a good look if youre in a 1920s totalitarian army, but not so much when youre trying to score goals against Finland. Its not all bad, however. At least Nike used a Canadian symbol the maple leaf as the dominant image on its two main jerseys. It looks great and is immediately identifiable. These look how Canadian hockey sweaters should. Contrast that with the U.S. jerseys that have what appears to be a cartoon-version of a K-Swiss logo on theirs. The black alternate jersey has received the most scorn, but Im digging it.
The first of those shouldn’t be a problem, according the CBO analysis. But there might not be enough money for the payments due on the 24th or the 31st. – How would default affect the economy? It would sink like a stone. Once default began, the government would have to slash its spending overnight by about a third. The fiscal drag, if it lasted a full year, would be the equivalent of up to 4.2 percent of national economic output, according to calculations by Goldman Sachs. That doesn’t take into account the potential for a financial crisis. If investors lost their cool, stock markets could tumble, hitting pension funds and leading consumers to spend less of their money. Credit markets could freeze up because investors around the world might reassess the value of U.S. debt, which serves as collateral for trillions of dollars in loans and other financial transactions. The Treasury has warned a default could trigger the worst recession since the Great Depression. – Is there an easy way out of this? Washington’s army of policy wonks have floated all sorts of ideas that could in theory resolve a debt ceiling crisis. Treasury could mint a $1 trillion dollar coin and deposit it at the Federal Reserve, magically topping up government coffers. The Obama administration could unilaterally raise the debt ceiling by invoking the 14th Amendment of the U.S.
United States-Indonesia Comprehensive Partnership
The Democracy and Civil Society Working Group negotiated a Memorandum of Understanding (MOU) on South-South and Triangular Cooperation (SSTC) that will enhance cooperation in third countries on issues such as democratic institution building, good governance, and disaster preparedness. In October 2013, Indonesia will become the lead Chair of the Open Government Partnership (OGP) Steering Committee.We are supporting implementation of Indonesias OGP National Action Plan, expansion of the OGP, and will work to assist Burma in becoming eligible for OGP by 2016. The Working Groups activities also have included interfaith dialogue; youth engagement; exchanges on bureaucratic reform, media, rule of law, parliamentary and electoral processes; womens economic and political empowerment; and formal consultations with civil society. Under the Education Working Group, USAIDs five-year $165 million Higher Education Partnership will expand opportunities for bilateral study and research exchanges, strengthen university partnerships, and enhance the quality of education. The Fulbright program is among the largest in the world and the Peace Corps return in 2010,after a 45-year hiatus, is a sign of our long-term commitment to Indonesias education system and people-to-people ties. Under USAIDsfive-year,$83 million PRIORITAS program, the United States is also working to strengthen basic education at the early grade levels. The Security Working Groupis advancing Indonesias defense modernization efforts in order to enhance Indonesias role in regional and global security. These efforts include the transfer of Excess Defense Article (EDA) F-16s, and the initiation of Foreign Military Sales (FMS) cases for Maverick missiles and other essential equipment to meet Indonesian defense requirements. In August, Indonesia agreed to purchase Apache helicopters worth $720 million. The United States and Indonesia also initiated a Defense Planning Dialogue to strengthen bilateral defense cooperation, exchange best practices for organizing and managing the defense sector, and support Indonesian-led reform efforts. The Environment and Climate Working Group has made progress in institutionalizing Indonesias Climate Change Center to ensure the core role of science in environmental policymaking. In 2011, Indonesiaand the United States completed the second debt-for-nature swap, in which the United States forgave $28.5 million in debt in exchange for Indonesian commitments to protect forest areas and reduce greenhouse gas emissions from deforestation. Under the Millennium Challenge Corporation (MCC)s $332.5 million Green Prosperity Project, two priority districts were identified for environmental impact assessments to advance sustainable land use and forest management practices.
An important anniversary for the United States national team and Jurgen Klinsmann has arrived
Players have risen high and fallen hard sometime the very same player! Jozy Altidore and Brek Shea , for instance. The fall and rise of Landon Donovan during Klinsmanns time could be the next compelling Showtime drama. During the affable Germans time in charge, the whole program teetered on the brink (depending on how deep you believe the fissures of February and March were) and then rallied spectacularly (Can we talk about that 12-game winning streak?). There have been famous wins (victories at Mexico, at Italy spring immediately to mind), some beautifully surreal scenes (the Snow Clasico, of course) and the big hammer of accomplishment, qualifying for the World Cup with a full two games to spare. There have also been moments worth of self-examination (losses in Jamaica last year and Honduras this year) and some uncomfortable times (moving on from the Carlos Bocanegra era, and Altidores eventually useful benching, for instance). The fusillades of media criticism were arriving in force for a while, mostly attached to stylistic concerns: The high pressure and pacey tiki taka may have trotted here and there, but never quite seemed to take hold and run completely free at full stride. The point today is this How is it possible that all of this has happened in just a little over two years? But this is, for the record, the anniversary of Klinsmanns first win. On this date waaaaay back in 2011, a 1-0 result against Honduras at Miamis Sun Life Stadium became the first of 25 wins under the current U.S. manager.