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G-8 Touches On Economic Policy -- DISAGREEMENT

Saturday, June 26, 2010 - 1:23 PM
The actual article title is:  "World leaders slam North Korea, Iran."   However, the small portion that deals with economic policy seemed most relevant here.


Obama made the case that the global economy remained fragile and should not be put at risk by countries moving too rapidly to trim their bulging deficits through spending cuts and tax increases, which can slow economic growth.

But leaders of Britain, Germany, Canada and Japan argued that deficit cuts were needed to reassure nervous investors, given the severe market turmoil experienced in May after the near-default of Greece on its huge debt burden.

MikeMike327 posts since
Feb 22, 2010
Rep Points: 876
1. Sunday, June 27, 2010 - 11:03 AM
Here's another article focusing specifically on this issue:, The great spending debate
Spending is becoming a dirty word in Congress and in Europe because of concerns over unsustainable growth in debt.

But those who are now laser-focused on not adding to government debt may be too short-sighted, some say.

Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,600