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Shouldn't we learn from europe that cuts are not the answer?
Look at spain, it is in a state of catastrophe and even a depression since there is no spending going on. They are using the same fiscal policies proposed by the republicans while showing absolutely no signs of growth and major depression with a 25 unemployment rate and 50% for young adults. Berlin needs to take a different kind of medicine and increase aggregate demand
if you say they should have spent so much in the first place, you have to understand that it wasn't the pubic debt that got them into trouble it was the private debt held by the banks
@crash are you kidding me everything from education, infrastructure and unemployment benefits have been slashed which are already in effect
there are protest every day in madrid
@jake will do...increase aggregate demand, stabilize spending gap
therefore debt per GDP goes down
@crash spain has been the most corporative in the programs next to Portugal to cuts spending
IT is not working!
@happy jack entitlements didn't cause this, it was the imbalances of the euro that did it and the private markets
if you want to stop it in the first place you are asking for regulation
@crash no where in your article does it say it hasn't been implemented yet...pointless!!!
@shud you statement is correct, but i disagree putting all the blame on the Spanish politicians
yes i will say they are part of the blame, but far from all of it
@the solution
you absolution can not compare the US to greece. You want to know what greece did that got them into trouble, they lied!!!! We dont lied about our balances. We need to control spending yes, but make sure our aggregate demand does to drop since we would then just be back tracking
People take note, WE NEVER HAVE TO PAY THE DEBT OFF, we just need to make sure the percentage of GDP never changes
5 Answers
- ?Lv 79 years agoFavorite Answer
How can a person Look Directly at a Problem and NOT really see it?
The reason Spain is Experiencing the PROBLEMS that it is, is because the have already TRIED to Implement the POLICIES that Mr. Obama and the LEFT are Trying to do TODAY here in the USA.
Why is that so hard to see? Greed? Selfishness? Does that Blind People?
GIVE ME MINE NOW....I don't care if we Become like Greece and Spain in 10 or 15 years....I want MORE and I DEMAND it NOW?
Good Grief Charlie Brown.
Mathematically, if we keep spending at the Rate we are today, we will Be in Exactly the same spot as Greece in 15 years.
Our INTEREST on our Debt will EXCEED our Tax Revenues. We wont' be ABLE to Borrow.
We could Tax All Americans Earning $250,000/year 100% of their INCOME for 54 years and NOT Get out of Debt.
Thanks for the question, I sincerely HOPE that you will get an Answer that will CHANGE your dangerous way of thinking.
- cinthiaLv 45 years ago
Ya can;t do this. There are readily too many men and women who're simply simple not able to take care of themselves. It is the accountability of the men and women( the federal government) to support them. It will also be overdone despite the fact that because it probably is. Once a software to support men and women is based a whole constituency develops and the group to serve that constituency grows larger and larger and increasingly highly-priced and everlasting. John F.Kennedy as soon as quipped that America might no longer abolish welfare since none of his peers from Welsley and Skidmore could have jobs with out welfare. There comes a time despite the fact that while men and women must be reduce unfastened and pressured to do for themselves after years of residing at the dole. We must differentiate among folks who can't support themselves and people who won't. EDIT TO MAX 50: Hey man, if ninety five% of cash given to church buildings finishes up going to the deficient wherein do the thousands upon thousands spent on massive expensive church buildings come from. Churches compete to look who can construct the largest and fanciest church all housing state-of-the-art communications. All this to fulfill the egos of pastors and their congregants. Why do I suspect that God isn't inspired? If all of this cash represents best the remainign five% of the money givewn to church buildings that implies there must be no poverty on this nation- or are the church buildings making use of the money for some thing we do not understand approximately?
- SmudgewardLv 49 years ago
The US is one country. Europe (except England) is many countries hoping to become one country (on balance not necessarily majority) w/out a war to make it happen so no parallels can be drawn. Spain was crushed by the debt/credit bubble more than almost any country because European investors gambled on Spanish property values increasing forever which somehow only George Soros and a few others at the top knew couldn't happen so when they pulled the plug they got even richer while everyone else now has to pay for being so stupid. Balance and control are the answers, short term politicians caused the problems..
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- 9 years ago
Spain hasn't even implemented austerity yet. They plan to though. We have yet to see what will work.