Obama AGAINST Austerity Programs in Greece

[uo111 5,282]

...that's not what growth means

That's what he means, if he is against austerity.

"Growth" to people who are against austerity is synomonous with a growth in deficit and debt. And that money has to come from somewhere (in this case Germany), and Greece doesn't want to pay it back.

It's like a typical 20 year old that can't manage their money. Those people go bankrupt though and that's where our country is headed. Increasing spending when you have no money is the stupedest thing that has been allowed to go on for decades.

[Mr Josh 3]

And that money has to come from somewhere (in this case Germany), and Greece doesn't want to pay it back.

They're trying to strike a new deal with different terms, they never said they won't pay it back. Where do people get that from.

[uo111 5,282]

They're trying to strike a new deal with different terms, they never said they won't pay it back. Where do people get that from.

That link you posted said they would like to write off parts of the debts.

[Economy 52,864]

That's what he means, if he is against austerity.

"Growth" to people who are against austerity is synomonous with a growth in deficit and debt. And that money has to come from somewhere (in this case Germany), and Greece doesn't want to pay it back.

It's like a typical 20 year old that can't manage their money. Those people go bankrupt though and that's where our country is headed. Increasing spending when you have no money is the stupedest thing that has been allowed to go on for decades.

well Austerity is needed when the main issue is debt

The US had an economic meltdown but financially the US Government wasnt so bad that they had to go into Austerity mode in 2008

But in southern Europe extremely high soverein debt is literally the source of much of the crisis and as such has to be dealt with regardless of how painful it may be in the short term :shrug:

[craig 680]

Austerity isn't the way to help a country facing Depression-like economic conditions.

 

Even the US Republicans are more into tax cuts than true austerity. Canada was smart reducing it's deficit in good times so we had room for some Keynesian stimulus during the 2008 recession.

[HighwayGuy 1,498]

Well in the UK there has been a tough austerity programme but we are one of the best performing countries in the world?

Austerity works I don't understand how you can just borrow money to spend and then expect the problems to go away

[Economy 52,864]

Austerity isn't the way to help a country facing Depression-like economic conditions.

Even the US Republicans are more into tax cuts than true austerity. Canada was smart reducing it's deficit in good times so we had room for some Keynesian stimulus during the 2008 recession.

if ur problem is eccessive debt tho u kind of dont have a choice

The economy and finances are somewhat connected but still seperate. If both the economy and finances are compromised, you cant compromise one even more to try and help the other

With a debt to gdp ratio of over 160% its not as simple as stimulus. At that point fiscal consolidation is needed. You cant soend your way out of a financial crisis :shrug:

[Economy 52,864]

Well in the UK there has been a tough austerity programme but we are one of the best performing countries in the world?

Austerity works I don't understand how you can just borrow money to spend and then expect the problems to go away

well Austerity NEVER helps an economy in the short to medium term. Its suppostu fix long term financial issues and in turn eventually the economy

If the UK is doing well now its probably because of other factors not because of the Austerity itself

[Luc 4,776]

Stimulus and growth programmes are what got Greece in this debt crisis in the first place. Perhaps Germany, Luxembourg and the Netherlands could do stimulus (while still reforming to improve competitiveness and have more money to spend by highering the pension age), but the other countries have to cut and make structural reforms.