Sunday, June 20, 2010

Merkel Removes Head from Posterior

German Chancellor Angela Merkel will begin a push to exit stimulus schemes and instead focus on budget consolidation at the next G20 summit. The EU is concerned, rightly so, about their spiraling debt and their ability to pay.

This is in clear contrast to the position of President Obama. Obama just attempted to warn EU countries against reducing their budgets.

It is virtually mathematically impossible to pay the debt we have today. Worse, our debt continues to grow and the President continually argues in favor of it expanding. The President, Congress, and Senate need to understand that we cannot spend money we do not have as Germany just did.

2 comments:

UnCommonSense said...

Wow, you have no idea what you're talking about. Go, find a school with a decent economics program and learn the subject matter before opening your mouth to the masses.

Deficits are important in a long run sense, but there is a MUCH larger concern to deal with at this point. The only way to avoid a deflationary mess is to spend enough to boost demand and thereby ensure that our economic recovery actually continues. Deflation is not a good thing in case you didn't know.

UnCommonSense said...

Nothing to say? Could it be that you are taking a position on fiscal policy that is indefensible?