The G20 Summit has announced their commitment to strengthening global economies with stimulus and more stimulus. Why not, it worked so well in the United States. We employed government workers for a year and increased entitlements with no lasting growth.
Reuters: “Should economic conditions deteriorate significantly further, those countries with sufficient fiscal space stand ready to coordinate and implement discretionary fiscal actions to support domestic demand, as appropriate,” the draft obtained by Reuters on Monday said.
The United States will avoid the “fiscal cliff” of expiring tax cuts and planned spending cuts due at year end, which threaten to throw its economy into recession, the draft said…
Obviously, the spending cuts, which are minimal at best, need to happen and they need to be multiplied tenfold. It won’t happen with our amateurish president.