The US debt crisis has dominated the headlines for months.
First, because of the wrangling between the two main parties that took the US economy to the brink of a theoretical default (which everyone knew all along was more posturing than reality). But then in the aftermath, as the implications of the crisis — and the way it is being handled — have continued to send aftershocks through the world economy.
Losing allure
The human face of this crisis is its impact on ordinary American families. The ‘peace and plenty’ dream that has drawn so many to this country has lost much of its allure. Indeed, given the way the American economy is structured, the pain of the global economic downturn has been felt more keenly here than many would imagine. For those who have lost their jobs, the limits on unemployment benefit in the USA have put major pressure on individuals and families struggling to survive. And the fact that medical insurance is one of the ‘benefits’ that come with being employed, when employment goes, then so too does health cover. There are many families — even from the middle classes — for whom this crisis has become a nightmare.
