Ever since the end of the Cold War, political and historical experts alike have predicted a decline in American hegemonic status. Some of the nuttier experts, such as Russian scholar Igor Panarin, have even predicted a complete collapse of our union into four different republics. Longhorn fans will be pleased to know that Panarin predicts the Republic of Texas will be the biggest of the four new countries, incorporating even Florida.
Today, talks of American decline have all but dissipated as international leaders have begun worrying over the prospects of American protectionism. Now, few wonder when America's dominance will peter out, but whether Uncle Sam is still strong enough to protect the global financial community. The world doesn't have a choice but to accept the premise that American leadership is the only way out of this global economic fiasco.
We've already broken out our "We're No. 1!" foam fingers, but that's not enough.
Take for instance last week's distraction caused by the revelation that bonuses were paid out to AIG execs after taxpayers had bailed out the insurance/bank conglomerate.
The total sum of the bonuses, $165 million, was a paltry amount compared to the $170 billion AIG has received and the total amount of money the government has put on the table to spend our way out of the impending economic Armageddon. The House of Representatives went into a flurry of populist rage, passing a bill in record time, taxing 90 percent of the AIG bonuses, providing Webster's dictionary with the best example of grandstanding to date.
Meanwhile, Rome burned.
This is not a time for petty discourse or blame games. Our problems affect every citizen of the world. Iceland's government has already toppled over economic turmoil connected to our current financial woes. Just this Saturday, Hungary's Prime Minister resigned over the economic mayhem in his own country. The new weapon of mass destruction is global instability caused by economic strife. The world demands action and leadership from the United States, and we're bickering over bonuses paid out to Wall Street executives! Were the bonuses morally reprehensible? Of course. Should we be outraged? Yes! But outrage doesn't solve anything. It's time to get over it and move on to more pressing problems.
The young Obama administration has let the economic crisis get away from them. President Barack Obama promised to turn our crises into opportunities but has allowed Congress to turn into a collective rabid populist, looking for someone to blame our and the world's woes on ever since former President George W. Bush disappeared to his ranch in Texas.
As college students at one of the nation's leading research institutions, we're perfectly situated to turn crisis into opportunities, to take the lead in solving the world's problems, to not only cry fire in a crowded theatre, but grab for the water hose, too. It's time to switch the national dialogue from populist outrage to constructive discussion and action, to forever prove wrong the windbags like Panarin.
After all, I'd much rather be a Gator than a Longhorn.
Matthew Christ is a political science freshman. His column appears on Mondays.
