US went from world policeman to 'resentful hegemon': Spectator
4 Min Read
Yascha Mounk argues that the US risks becoming a "resentful hegemon," caught between the desire for global influence and a reluctance to bear the associated costs.
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Republican presidential nominee former President Donald Trump watches as a video featuring Democratic presidential nominee Vice President Kamala Harris plays during a campaign event, Friday, Oct. 18, 2024 in Detroit, Michigan. (AP)
According to Yascha Mounk, writing for The Spectator, America is withdrawing from its global position, with US President Joe Biden seeming disconnected from key events in the Middle East, while his advice to "Israel" is allegedly ignored. His administration's foreign policy has been marred by mistakes, most notably the disastrous withdrawal from Afghanistan.
Initially considered as a triumph, Biden's backing for Ukraine is now at risk as the war continues.
Meanwhile, Donald Trump, who may reclaim the presidency, pushes for minimizing American involvement in foreign affairs and emphasizing transactional partnerships. If elected, he is anticipated to populate his administration with loyalists, a departure from the more conventional characters of his first term.
The one area of bipartisan consensus remains a tough stance on China, particularly regarding tariffs aimed at protecting American manufacturing. However, both parties seem hesitant to adopt policies that could provoke unpopularity, especially concerning military commitments in Taiwan or sanctions that might harm the US economy. Trump has previously suggested that Taiwan should bear the cost of its own defense, reflecting his reluctance to engage militarily.
Mounk further wrote, "It would be easy to believe that the will to play the world’s policeman has gone. "
US mirroring Soviet Union in its waning days
Some analysts compare the current situation to "late Soviet America," implying that the US mirrors the Soviet Union in its waning days. Following the collapse of the Soviet Union, America became the world's sole surviving superpower and assumed the position of world policeman by default. However, the period of American supremacy following 1989 proved to be shorter than anticipated.
Mounk asserts that the financial burdens of extended military conflicts in places like Afghanistan and Iraq have eroded America's standing abroad and weakened domestic support for its foreign policy. At the same time, China has risen as a formidable competitor, significantly boosting its economic power and challenging U.S. global influence.
Since World War II, the US-Europe relationship has been fraught with tension, as Europeans harbor resentment toward American dominance while the US feels its allies are not contributing sufficiently. This mutual dissatisfaction is likely to intensify in the coming decades.
Many Americans are growing increasingly impatient with the responsibilities of superpower status, prioritizing domestic concerns over international stability. Polls indicate that a significant portion of the public wants the US to maintain its global influence but is reluctant to shoulder the costs that come with it.
According to Mounk, the US is "destined to become a resentful hegemon," detailing how current voters are dissatisfied with the role that the country's previous leaders have played. Even if they believe the price has gotten too high, they anticipate to continue receiving the rewards that have historically come with performing that role, something he believes will mean trouble not only for the US, but for those depending on it.
US budget deficit hits $1.8 trillion in third record high
The United States has announced that its budget deficit has increased to $1.8 trillion over the past year, marking the third highest figure on record.
On Friday, the US Treasury Department reported that the total budget gap grew by $138 billion for the fiscal year ending September 30, 2024.
The Treasury cited a nearly 30% increase in interest payments on public debt, primarily due to rising interest rates, as a key factor in the widening deficit.
Additionally, the deficit was partially influenced by a reversal of over $330 billion in expenses from the previous year, when the Supreme Court overturned President Joe Biden’s student loan forgiveness program.
A White House official attributed the increase in the deficit to congressional Republicans, stating that “tax cuts led to low revenue levels that increased the debt.”
Moreover, excessive military spending and rising Social Security costs further exacerbated the situation.
Despite the crisis, Treasury Secretary Janet Yellen claimed that the US economy has not only stayed resilient but also demonstrated growth in 2024. She further stated that the government's total debt could have reached $4.8 trillion if the Biden administration had not managed to save $3 trillion.
