Retaining the Panama Canal as territory or state

How would American security change if the United States retained the Panama Canal and built major bases at both ends?

The bases would improve Caribbean and canal security, but permanent control would also bind the United States more tightly to Central American political and border disputes.

Colonial retention and Panamanian statehood produce different outcomes. A colony would remain politically contentious, while statehood could integrate the canal more securely into the United States. Either route expands American power projection and creates new land borders. It could also encourage more interventionist Pan-American politics.