What do you think S&L? You in favor of Germany's approach to budget.
In addition it appears from this chart and additional figures that Europe's debt crisis was NOT caused by govt spending.
Last edited by Havakasha; 06-23-2010 at 02:00 PM.
The second article, well, I'm a very simple person. You have revenue and you have expenses. When your revenue is too little to cover your expenses, you run a deficit. And when you borrow money you cannot pay back; you default on your loan.
In looking at tax burdens for different nations, it looks as if Greece and Spain, for example, are taxing at sufficiently high rate compared to other nations.
The inability to pay back your debt comes from somewhere.
We dont disagree about getting your house in order. Only problem is its easier said then done. Especially so when you buy a house thats already severely in need of repair and there are many conflicting demands on your money. I still agree with the idea that we first have to grow the economy and cut unemployment before we starte and austerity budget.
You should be aware that the European countries who are cutting spending are RAISING TAXES.
So i would quess that you would have no problem with the U.S. doing the same to help rein in the
Last edited by Havakasha; 06-24-2010 at 01:04 PM.