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OL1 Wrote: May 21, 2012 9:18 PM
#54, You are not very good with numbers are you/
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Kibitzer Wrote: May 21, 2012 1:54 PM
I agree except that it isn't so much in their paychecks as in the prices they will pay for things due to inflation caused by the tax increases.
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In the run-up to this weekend's G-8 summit at Camp David, journalists have unfavorably compared European "austerity" with Barack Obama's economic policies.
European spending cuts, the argument goes, have hurt people and are arousing political opposition, while Obama's proposals to keep federal spending at 24 percent of gross domestic product indefinitely are likely to succeed.
Evil Republican spending cuts, in contrast, would deny the economy needed stimulus and wreak havoc on ordinary people.
But the facts undermine the storyline. Veronique de Rugy of the Mercatus Center at George Mason University took a look at what "austerity" in Europe...
Obama Pursues Higher Tax Rates, Growth Be Damned