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A total and complete repudiation of the fiscal policies of this president. They tried it his way, agreeing to increase their debt with stimulus and finally realized that IT DOESN'T WORK.
You cannot keep FUNDING bloated governments. They need to SHRINK.
World leaders pledging to reduce global deficits - Yahoo! News (http://news.yahoo.com/s/ap/20100627/ap_on_bi_ge/world_summit;_ylt=At1osHMW04NFnYG6Kd5TBK2yBhIF;_yl u=X3oDMTJkbWFudWJ2BGFzc2V0A2FwLzIwMTAwNjI3L3dvcmxk X3N1bW1pdARjcG9zAzEEcG9zAzMEc2VjA3luX3RvcF9zdG9yeQ RzbGsDZnVsbG5ic3BzdG9y - broken link)
Quote:
TORONTO – World leaders are lining up behind a bold pledge by rich nations to cut budget deficits in half by 2013 despite President Barack Obama's concerns that cutting stimulus spending too quickly could hurt the global recovery.
You mean HIS concern that it will damage him and his party politically, that's really all that matters to this president.
Quote:
Harper's proposal stood in contrast to the priorities Obama laid out in a competing letter. Obama urged the G-20 countries to avoid the costly mistake made during the 1930s, when countries reduced government support too quickly and ended up prolonging the Great Depression.
He is truly NOT a student of history.
The spending binge in the 30's prolonged the GD.
Keynesian economics is going the way of the dinosaur......thankfully.
Ist not too different from teh last meeeting when he asked them to on a % bases match his stimulus. They bascailly said no and said that would collpase their econmy as they wre in no position to do it. That si w=one reason euroepe was wrote off as being a factor in leading out fot eh recession. But it seem they were right just there past policies got them too close to the edge already.Looks like we are getting closer to the edge with every spending bill.
Hmm. Someone really needs to pick up a book about Keynesian economics.
Should probably point out that all of those "fiscally conservative foreign leaders" you supposedly now love to put up on an alter, are also all vehement defenders of single payer Health Care, have all called for tax increases on the wealthy, -- and taxes on banks, including strong regulation, Sarkozy especially (in unison with Merkel) calling for a total upheaval of the regulatory system on banks, Obama and Brown (Now Cameron) the only leaders to express concerns (the right-wing, conservative position).
Also...you really do love to snip and clip, don'tcha?
Quote:
Obama's budget plan from February would cut the deficit in half by 2012, as a percentage of GDP. He's also named a commission to examine how to trim the deficit further, to 3 percent of GDP — a level economists generally view as sustainable.
On the issue of taxing banks to pay for future bailouts, the G-20 statement stressed the responsibility of the banking sector to shoulder the cost of any repeat crisis.
I wonder how long til the USA defaults on the money it owes.
Default, hyper-inflation, massive deflation: actually we have several alternatives. All catastrophic. All thanks to our Leaders, both Democrat and Republican.
Default, hyper-inflation, massive deflation: actually we have several alternatives. All catastrophic. All thanks to our Leaders, both Democrat and Republican.
I agree, both dems and repubs are to blame ever since wilson was potus.
Hmm. Someone really needs to pick up a book about Keynesian economics.
Should probably point out that all of those "fiscally conservative foreign leaders" you supposedly now love to put up on an alter, are also all vehement defenders of single payer Health Care, have all called for tax increases on the wealthy, -- and taxes on banks, including strong regulation, Sarkozy especially (in unison with Merkel) calling for a total upheaval of the regulatory system on banks, Obama and Brown (Now Cameron) the only leaders to express concerns (the right-wing, conservative position).
Also...you really do love to snip and clip, don'tcha?
Obviously, they are starting to see the error of their ways. They might agree to all that but they now realize that deficits and expanding government is the real problem.
Besides, this just highlights that fact that obama can't use the "world" to justify his spending craze, he can't use them to cover his butt on this anymore.
His latest budget plan increases spending by close to 40% and there is NO WAY he will be able to cut the deficit...without raising taxes.
He should be cutting his budget, by at least 25% if he were at all serious about it.
Surely you must be aware that his budget will cause the deficit to rise to almost $20 TRILLION in five years?
Even though I voted for Obama, I have to agree with these leaders. I think they probably understand their own economies a lot better than Obama does. Is this a new form of imperialism, telling other countries what to do with their budgets?
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