Economic train wreck heading your way

[EdwardBaiamonte]

What's so wrong about a little austerity when you're $16 trilion in debt.

Generally bcause austerity is the best wa to go from $16 billion of debt to $32 billion of debt. How's the austerity thing working out in Europe? It did great for everyone in the 30's.

too stupid by 1000% !!! austerity in Europe is working wonderfully!! Their numbers are getting better while ours are getting worse!!!The idea that austerity will get us to $32 trillion in debt is identical to saying more drugs will cure the junkie. How stupid can a liberal be???

Only a blind stupid monkey liberal would say more drugs would work. Why be so afraid to explain how on earth that is possible???? What does your inability tell us say about the IQ and character of liberals???????


Wolfgang Schauble:

"According to the latest estimates, the Euro zone's budget shortfall should be 3.2% of GDP this year, half the level of 2009 and well below the deficits of the USA and Japan. In the last 3 years the structural deficit- the fiscal shortfall adjusted for the change in the business cycle- has shrunk to
2.1% from 4.6%.

After years of steady rises in Spain Portugal and Greece and other places the current account deficits have fallen rapidly driven not just by retreating consumption and imports but also, crucially, by rising exports.

Unit labor costs in Ireland and Greece have dropped 12% since 2009 and by 6% and 5% in Spain and Portugal respectively. As the OECD acknowledged in its recent "Going for Growth"
the crisis has served as a catalyst for structural reform in those countries that most needed it, particularly in the labor market.

As these trend show Europe's crises management has proved itself."

 

[007]

 

[uscitizen]

Pinion nut.

 

[JimBowie1958]

What's so wrong about a little austerity when you're $16 trilion in debt.

Generally bcause austerity is the best wa to go from $16 billion of debt to $32 billion of debt. How's the austerity thing working out in Europe? It did great for everyone in the 30's.

too stupid by 1000% !!! austerity in Europe is working wonderfully!! Their numbers are getting better while ours are getting worse!!!The idea that austerity will get us to $32 trillion in debt is identical to saying more drugs will cure the junkie. How stupid can a liberal be???

Only a blind stupid monkey liberal would say more drugs would work. Why be so afraid to explain how on earth that is possible???? What does your inability tell us say about the IQ and character of liberals???????


Wolfgang Schauble:

"According to the latest estimates, the Euro zone's budget shortfall should be 3.2% of GDP this year, half the level of 2009 and well below the deficits of the USA and Japan. In the last 3 years the structural deficit- the fiscal shortfall adjusted for the change in the business cycle- has shrunk to
2.1% from 4.6%.

After years of steady rises in Spain Portugal and Greece and other places the current account deficits have fallen rapidly driven not just by retreating consumption and imports but also, crucially, by rising exports.

Unit labor costs in Ireland and Greece have dropped 12% since 2009 and by 6% and 5% in Spain and Portugal respectively. As the OECD acknowledged in its recent "Going for Growth"
the crisis has served as a catalyst for structural reform in those countries that most needed it, particularly in the labor market.

As these trend show Europe's crises management has proved itself."

Most of those mnumberss are estimates, and the real tax receipts will fall much further short than they think. These austerity programs are only making things worse, when what they need to do is tell the banksters to go fuck off and pay their godamned debts.