Sunday, June 27, 2010

Global Leaders Remain in the Grips of Deficitmania

They seem to have unlearned the lessons of the 1930s:

TORONTO — Despite President Obama’s pitch at the summit meeting for developed nations here for continued stimulus measures to prevent another global economic downturn, the United States will go along with other leaders who are more concerned about rising debt and join in a commitment to cut their governments’ deficits in half by 2013, administration officials said on Saturday.

That goal is the proposal of Stephen Harper, the prime minister of Canada and the host of the two-day Group of 20 summit of developed nations.

Good times.

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