Talking of fiscal cliffs – and lets not go there over why we had to endure the endless prattling in the US over problems with their budget all through the festive season – we are facing our own financial precipice here in Southampton in the coming weeks.

With some £20m to be shaved off the city’s budget, our city leaders are locked in discussions over how and where the axe will fall on jobs and services.

This week the axe swung above bus services (more on that elsewhere on this page) and services for vulnerable adults.

Hundreds of thousands of pounds will go from subsidised bus routes and in cutting home help for some elderly and vulnerable folk.

(I’m going to set aside for now my argument that if we sold off some of the city art that experts have earmarked as not part of the collection then some services could be saved, but only for now).

In many ways, however, we should be grateful that at least we, the voters, have had a meaningful say in how our budget cuts will be made.

Not so in the US, despite the fact they have just had a national election. There the budget process is inheritantly chaotic. In fact, unless you are a student of how the US works politically – and I can’t blame you for not wanting to try and follow the increasingly rabid, polarised snarling that goes on across The Pond – then you may not realise that in the States they do not even have an annual budget, certainly not in a form we would recognise.

Not for the Americans the simplicity of electing a ruling party – even a coalition – which then votes through its – often unpopular – budget and gets to work swinging where necessary. There, budgets are more or less thrashed out on a point by point basis as and when, and with every politician fighting for his or her own corner or, in too many cases, vested interests.

Now on the up side such a system has created over two and a half centuries the largest economy in the world. On the downside, the US is to all intent and purpose bust.

Sooner or later the American people will have to face terrible cuts backs, far worse than anything we now see looming.

It’s small comfort to understand these things when the bus at the end of the street no longer runs when you need it to, or your savings are being eaten away just to pay for basic support. But at least we do have some power at the polling station come next time.