Obama had asked those countries during the G20 to please keep spending through stimulus. Guess we now know what they thought of that request. Reminds me of how Russia really " reset" with us.
We're headed hard left as Europe did several years ago while Europe is realizing the error in their ways.
Who are you kidding, if we were cutting back, you'd be bitching about that too. _________________________________________________ I'd be praising the guy if he did anything responsible, unfortunately, he is full of crap. We are in a much worse pickle than europe for a few reasons. much more people and we have half the country that supports the other half. in europe, at least the far majority contributes, they pay income taxes and a vat tax and much higher gas taxes. 1/4 of our country is on fed assistance and the other 1/4 pays very little in taxes.
With the never ending stream of nonstop complaining about every perceived mis-step both large and small, the content of the complaints have stopped seeming as relevant as the obvious desire just to be complaining about seemingly anything. Seriously, at what point were you holding up these EU economies as a shining example of fiscal policy done right? It is another thing for you to ***** about, so you are bitching about it. We get it, you don't agree with his policies. In any event, it is pretty safe to say that if Obama were to start cutting budget, the items he was cutting would be the next thing you'd be bitching about.
Start with cutting wasteful BS and what little protest you hear would be inconsequential. Whining about the protest it laughable when you consider what Bush went through starting on the day the Supremes put an end to Gore's Florida stunts, and continuing for the next 8 years straight save the brief respot after 9/11. Obama needs to grow some thicker skin, along with ending his constant campaigning and start actualy being the President.
Isn't it funny how some people always assume that any criticism of 'O' is just sour grapes. Never do they actually argue the points, just love throwing blankets statements around. The reality is that these countries have changed course, despite past policies. Yet, 'O' still believes in spending, even tried to convince the Euros, of his stupidity.
While this will fly over the heads of the blog readers on the board- there actually is a healthy debate amongst economists right now on whether austerity moves will further hurt the global recession. More so- they debate which areas are ok to reduce budgets for and which aren't- e.g. most support spending on unemployment benefits yet cuts in other areas. The concern is that these moves by some EU countries will push them into a further recession, kill more jobs and create a cycle that causes an even larger deficit than before. Clearly there is a sweet spot of deficit spending mixed with budget tightening. Choosing where and how to do it is where the politics butts heads with economists. As most people who study this matter know- job creation, not budget tightening or enlarging, has the largest effect on fiscal deficits. Budgets have a much smaller, secondary effect on deficits. The best thing Obama or any EU head could do if they could would be to create jobs. Of course- to do that from the govt. perspective- you quite often have to spend money or collect less of it.. and thus the catch 22. I recommend watching CNBC and the WSJ has a few good articles on this matter. Back to the partisan fighting boys...
I would think Germany, along with the other countries, also have a history of dodging the consequences of deficit spending. Regardless of actions or inactions of past administrations, they now feel the need to take steps which address the problem. We haven’t had, and we don’t have, the leadership or political will to confront our addiction to overspending. If the austerity measures are successful in these other countries, then perhaps we can follow in their footsteps.
