It is said that when America sneezes - the world economy gets a cold !
Yesterday President Barack Obama's ability to get bills through the US Senate took a hit when voters turned away from the Democrats, and elected a Republican to represent Ted Kennedy's old seat in Massachusetts.
This was unexpected. Boston has long been a Democratic stronghold and yet that political party lost 47 to 52. It seems to be a sign that all is not well with the voter's perceptions of Obama's policies.
The loss changes a critical balance of power.
President Obama can no longer rely on the numbers to prevent a Republican " Fillibuster " - and that may be the measure that dooms his all important health insurance reforms to defeat.
America is slowly emerging from the worst recession in decades and now is not a good time to introduce a doubt on the president's ability to legislate. There is every chance that this will slow the world recovery.
Further evidence that economic health is inescapably linked to politics !
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