Daily Archives: January 7, 2013

The last-second deal to avoid America’s fiscal cliff has been criticised by budget experts, the business community and the press. In the face of deficits still exceeding a breathtaking $1tn annually, they had hoped for a “grand bargain” – namely, a long-term, multitrillion-dollar package of revenue increases and spending cuts that would truly fix the debt problem. That did not happen. Instead, the deal is seen as too small and unbalanced, as it raises only modest amounts of revenue and cuts no spending. Outside Washington, no one has a good word for it. Continue reading »

Two upcoming elections will be critical for the future stability of south and central Asia and for the continuing success in the struggle to defeat Islamic extremism.

The first are the parliamentary elections in Pakistan scheduled for next spring to elect a new government. In the next few weeks President Asif Ali Zardari and the opposition have to agree to a neutral caretaker government that would be in place for three months and would be responsible for holding the elections. Continue reading »