Posted on 07/30/2004 6:41:56 AM PDT by Pikamax
Germany Backs Kerry's Plan to Cut U.S. Budget Deficit (Update2) July 30 (Bloomberg) -- Germany supports plans by Democratic presidential candidate John Kerry to pare the record U.S. budget deficit, a Foreign Ministry official said, welcoming a measure that may help stabilize the dollar against the euro.
``The Democrats have come out against the policy of debt, something that we and most other Europeans support,'' said Karsten Voigt, the ministry's coordinator for U.S. relations, in a telephone interview. ``It's a position that is jointly backed by the IMF and the World Bank.''
German Chancellor Gerhard Schroeder said after the euro rose to a record $1.2930 against the dollar Feb. 18 that the U.S. budget deficit and trade deficit were ``not having an unmentionable effect'' on the exchange rate, hurting German exports and damaging the country's economic recovery. The U.S. is Germany's main trading partner outside the European Union, taking 9 percent of the country's exports last year.
Under President George W. Bush, the U.S. recorded a $375 billion deficit in 2003, compared with a $237 billion surplus when he took office in January 2001. The widening shortfall is a ``worrisome'' threat to the economy, Federal Reserve Chairman Alan Greenspan said May 6.
(Excerpt) Read more at quote.bloomberg.com ...
Hmm if I remember correctly Germany and France were both in violation of european law for running structural budget deficits. Ah the hypocracy. Ah the politics!
Great with socialized medicine, higher taxes and surrender to terriosts we can join the ranks of Germany and France.
Gosh, this is like the pot calling the kettle black. Germany has a large structural deficit and military spending far less (pecentage wise) than the USA.
"Germany Backs Kerry's Plan to Cut U.S. Budget Deficit"
Well that settles it for me, because I really Really REALLY give a rip what Germany thinks.
Physician, heal thyself. Both Germany and France are deep in debt and disregard the EU's worthless guidelines on deficit spending. So why are they lecturing us, when we fight the war in Iraq and they sit back and carp? They don't like it that our dollar is making it tough to sell their stuff to us. It also might help if they were a little less anti-American so that thousands of US consumers weren't boycotting their products.
Shortly thereafter Germany started running afoul of the law and attempted to get the law changed.
So Germany's inserting itself in our political process. There was a time when all Americans would have been outraged by this!
I urge President Bush to pull US troops out of Germany.
I read that as well.
"compared with a $237 billion surplus when he took office in January 2001"
There was no 237 billion surplus in January of that year. What happened in 2001 was that the unmolested Al Quada attacked the World Trade Towers for the second time, finally succeeded in killing thousands and put a hammer blow on the economy. Any economic reporting failing to put anything in context with the war on terror is a deliberately manipulative report.
Ok, we'll just pull our troops out of Western Europe. That would save us lots of money.
As long as inflation is kept in check here what concern is it to Germany about our dollar value to the euro? I don't need to visit Germany or anywhere in Europe or even buy their products. There are plenty of other world market areas that have better trade value.
What Kerry IS NOT saying is that he doesn't plan to "cut the deficit" by cutting spending (except in defense, of course) but instead his plan is to RAISE TAXES!
That seals it for me. If Germany supports Kerry, then so should I.
Not.
Germany, Belgium, Bosnia, Kosovo.
1) Stronger on defense than Bush (might cost a little more, but its worth it)
2) Free health care for everyone (couldn't cost too much, could it?)
3) Tax cut for the middle class (they deserve it)
4) Financial support for small business (it's only money)
5) AND a balanced budget!
Oh, before we leave let's demolish every airstrip and building, and leave the rubble in place.
When Germany gets their unemployment back in the single digits, maybe they can take an interest in foreign economies again. Until then...STFU.
Bush's deficits are about the size of Carter's budgets. There is no support for spending cuts in Congress or the White House. Neither Kerry nor Bush seems to have a plan to reduce spending.
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