U.S. Public Debt Ceiling and international monetary system

Jaleel .S. Dhamad, P.Dr.

	U.S. Public Debt Ceiling and international monetary system
Economic Sciences
Article 1, Volume 8, Issue 32, 2013, Pages 1-22 PDF (0 K)
Author
P.Dr. Jaleel .S. Dhamad
Abstract
The nature of political system in the United States , which based on military superiority, requisites huge military spending beyond its economic and financial capacity . In addition , the nature of the international monetary system based on its currency, the dollar , as the basis for reserves and for International Settlements, works for US advantage and consider one of the most important causes of its prosperity through the monetary expansion in terms of dollars .These two factors led to a severe double deficit, i.e. , deficit of public budget and balance of payments, which leads in turn to the huge public debt financed through the issuance of more dollars at the expense of the interests of other nations that seek to find a suitable alternative to the current international monetary system. In this paper we will try to clarify some important points regarding some aspects of public debt and external debt, the root and the reasons of the problem of US public debt, the economic and financial implications of such debt at the level of the U.S. economy and at the level of the global economy, focusing on its effects on the international monetary system ,and finally we try to imagine the likely alternatives to current international monetary system which can serve balanced interests to all developed and developing countries

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