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(ECNS)--Aftermonthsofpartisanarm-wrestling,theUSCongressapprovedthebilltoraiseAmerica"sdebtceilingaftertheSenate"spassagelateThursday.ThetwopartiesintheUnitedStatesengagedinalast-minutetug-of-warovertheUSdebt"bomb,"whichreachedacriticalpoint.

SomeexpertsbelievethattheUSdebtceilingcrisisistheresultofrecklesspoliticsdrivenbydollarhegemonyandtheunderlyingcauseisthepolarizationofbipartisanpolitics.TherecurringdebtcrisesnotonlyhaveadisastrousimpactontheUSeconomyandpeople"slivelihoodsbutalsocontinuouslyerodethecredibilityoftheUSgovernmentandthevalueofUSdollarassets,therebysignificantlyimpactingandprofoundlyinfluencingtheglobaleconomy.