France

[Wacka]

Iwhile I agree that there need to be structural reforms for deficit spending cutting measures, if this guy had it his way, we'd certainly fall into another deep recession. It's very simple, id you take too much money out of the economy too swiftly, demand for goods and services fall, which in turn effects tax revenues..

 

The solution is to have pro growth policies in the near to mid- term and structurally reform long term spending.

 

Since when did we get out of the recession?

[WorldTraveller]

Since when did we get out of the recession?

Sorry, I'm not talking about how people feel, I'm talking about the actual technical definition of a recession which is two straight quarters of negative GDP

 

Absolutely. The other solution is to not turn your country into one huge welfare state to begin with. Maybe American voters will figure that out before November.

I agree completely

[Adam]

LOL

Yes, because we are doing so well right now. Indeed

[Chef Jim]

Yes, because we are doing so well right now. Indeed

 

So you think becoming more like Europe is the way to go? Did you ever think and wonder why the US has been the world leader for so long?

[Adam]

So you think becoming more like Europe is the way to go? Did you ever think and wonder why the US has been the world leader for so long?

That isn't what I said. Instead of mocking others, clean up your own house- that was my message.

[B-Man]

Show Me the ‘Savage’ Spending Cuts in Europe, Please

By Veronique de Rugy

 

Austerity is destroying Europe, we are told. In fact, this “anti-austerity” slogan was a big reason for the victory of newly elected socialist François Hollande to the presidency of France. Interviewed in The Economist a few weeks ago, Hollande’s campaign director said “We are not disciples of savage spending cuts.”

 

But then, I look at the data and I am asking: What “savage” spending cuts?

 

Look at this chart Following years of large spending increases, Spain, the United Kingdom, France, and Greece — countries widely cited for adopting austerity measures — haven’t significantly reduced spending since 2008. As you can see on this chart:

 

•These countries still spend more than pre-recession levels

 

•France and the U.K. did not cut spending.

 

•In Greece, and Spain, when spending was actually reduced — between 2009–2011 — the cuts have been relatively small compared to what is needed. Also, meaningful structural reforms were seldom implemented.

 

•As for Italy, the country reduced spending between 2009 and 2010 but the data shows and uptick in spending 2011. The increase in spending represents more than the previous reduction.

 

 

The most important point to keep in mind is that whenever cuts took place, they were always overwhelmed by large counterproductive tax increases. Unfortunately, that point is often overlooked. This approach to austerity — some spending cuts with large tax increases — is what President Obama has called the “balanced approach.”

 

National Review

[BiggieScooby]

The solution in Europe is creating their own Fed. Europe has no Federal Reserve.

[WorldTraveller]

The solution in Europe is creating their own Fed. Europe has no Federal Reserve.

They are called "central banks"

[....lybob]

They are called "central banks"

The European Union has the ECB "European Central Bank" not central banks.

[WorldTraveller]

The European Union has the ECB "European Central Bank" not central banks.

Umm, that is a central bank.

Edited May 8, 2012 by WorldTraveller

[DC Tom]

Umm, that is a central bank.

 

Welcome to the Land of the Stupid.

[B-Man]

"Irony can be awfully ironic sometimes" - Cdr. Buck Murdock

 

Obama Advises French Not To End Austerity Measures: (Really ? ? ?)

 

President Obama’s spokesman warned the new socialist president-elect of France not to implement his campaign agenda of ending austerity measures, indicating that such a reversal could damage the world economy.

 

{snip}

 

French President-Elect Francois Hollande called for an increase in government spending and taxes.

 

If France crashes, it offers America a preview of where Obama’s policies will take us, so he… doesn’t want France to implement Obama’s policies.

 

He doesn’t want that heads up. Not before the election.

 

Ace of Spades

 

.

[Chef Jim]

National Review

 

Welcome to the CA way of making budget cuts. To them out here growing at a slower rate is pushed to the public as spending cuts.

 

"You're cutting the amount of money spent on schools!!"

 

"No.....we're increasing the spending at a slower rate."

 

 

 

[IDBillzFan]

I need to do some more reading on this topic, but there seems to be this common realistic thread that the austerity measures taken by the French up until now have not REALLY been austerity measures at all, but rather efforts to make it LOOK like austerity measures are being taken without really addressing their true financial concerns. And the answer to this was to elect a socialist president whose plan is to now tax the rich up to 75%.

 

This should be interesting to watch.

[1billsfan]

I need to do some more reading on this topic, but there seems to be this common realistic thread that the austerity measures taken by the French up until now have not REALLY been austerity measures at all, but rather efforts to make it LOOK like austerity measures are being taken without really addressing their true financial concerns. And the answer to this was to elect a socialist president whose plan is to now tax the rich up to 75%.

 

This should be interesting to watch.

 

 

You do live in LA, right?

[meazza]

I need to do some more reading on this topic, but there seems to be this common realistic thread that the austerity measures taken by the French up until now have not REALLY been austerity measures at all, but rather efforts to make it LOOK like austerity measures are being taken without really addressing their true financial concerns. And the answer to this was to elect a socialist president whose plan is to now tax the rich up to 75%.

 

This should be interesting to watch.

 

http://news.investors.com/article/610596/201205071832/european-voters-swallow-media-myth-of-budget-austerity.htm

 

So the idea that Europeans are "tired" of austerity is false. You can't be tired of something you haven't tried. This is why an exasperated German Chancellor Angela Merkel said Monday she'll continue to demand that other countries make real cuts in spending

[IDBillzFan]

You do live in LA, right?

California is completely different. No one is faking austerity measures. No one is talking about cutting spending. There is no single, public effort to address the oft-discussed unsustainable costs of state entitlements. No one acknowledges that thousands of people and companies leave for other states every month.

 

No. The state simply ignores all of this. The only plan currently being discussed is a budget that increases taxes on millionaires, with 90% of that new revenue going directly to education.

 

http://news.investors.com/article/610596/201205071832/european-voters-swallow-media-myth-of-budget-austerity.htm

Yeah. Like that.

[Adam]

I need to do some more reading on this topic, but there seems to be this common realistic thread that the austerity measures taken by the French up until now have not REALLY been austerity measures at all, but rather efforts to make it LOOK like austerity measures are being taken without really addressing their true financial concerns. And the answer to this was to elect a socialist president whose plan is to now tax the rich up to 75%.

 

This should be interesting to watch.

Maybe he isn't a socialist president either. Maybe they are making him to look like one

[1billsfan]

California is completely different. No one is faking austerity measures. No one is talking about cutting spending. There is no single, public effort to address the oft-discussed unsustainable costs of state entitlements. No one acknowledges that thousands of people and companies leave for other states every month.

 

No. The state simply ignores all of this. The only plan currently being discussed is a budget that increases taxes on millionaires, with 90% of that new revenue going directly to education.

 

 

Understood, that's why I didn't highlight the "austerity" remarks. Just having a little fun by making a jab.

 

Though France electing that guy does remind me a lot of California electing Jerry Brown.

[drinkTHEkoolaid]

I need to do some more reading on this topic, but there seems to be this common realistic thread that the austerity measures taken by the French up until now have not REALLY been austerity measures at all, but rather efforts to make it LOOK like austerity measures are being taken without really addressing their true financial concerns. And the answer to this was to elect a socialist president whose plan is to now tax the rich up to 75%.

 

This should be interesting to watch.

 

I need to do some more reading on this topic, but there seems to be this common realistic thread that the austerity measures taken by the French up until now have not REALLY been austerity measures at all, but rather efforts to make it LOOK like austerity measures are being taken without really addressing their true financial concerns. And the answer to this was to elect a socialist president whose plan is to now tax the rich up to 75%.

 

This should be interesting to watch.

 

Lol it will be a tire fire no matter how it plays out

 

If he sticks to his plan to tax the rich , grow government and keep spending he will tax the country to death while driving out anyone who is productive. The hardworking motivated people will be upset and when they stop contributing and the system collapses then the people dependent on the system will riot as usual

 

Or

 

When they realize they can't afford the campaign promises and have to scale back that will cause riots and strikes too.