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Why Budget Cuts Don’t Bring Prosperity


 

The New York Times: Washington

Remember the German economic boom of 2010?

Germany’s economic growth surged in the middle of last year, causing commentators both there and here to proclaim that American stimulus had failed and German austerity had worked. Germany’s announced budget cuts, the commentators said, had given private companies enough confidence in the government to begin spending their own money again.

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About tenthltr2u (1039 Articles)
A child of the 60's I often feel out of place in the world as it exist today. Too much excess, too much materialism, too few people who genuinely care or give a damn. It is only with the heart that one can see rightly; what is essential is invisible to the eye. Antoine de Saint-Exupery

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