German economic growth in 2012 by quarter has been...
Over the same four quarters the US has been
So, Germany has been hovering near a double dip for most of the year while the United States has seen slow but steady growth throughout the same period.
Where Germany has done better is the unemployment rate but this is primarily because of their system where companies are encouraged to keep people on the payroll even at reduced hours with benefits as opposed to simply laying people off. Germany also has a much stronger social safety net.
We have seen the Euro countries and the United Kingdom embrace the exact type of austerity measures advocated by the Republicans and illustrated by what we will see with the fiscal cliff and we have seen the Euro struggle with recession and economic malaise while the United States is witnessing a quickening recovery.
"This [the fall into recession] was totally expected because of austerity policies combined with world growth slowing down and a dramatic fall in activity in Germany and the Netherlands," said Steen Jakobsen, chief economist at Saxo Bank.
Austerity plans fail because they fail to take into account you can't generate revenue when the country is broke.
According to NBC we will go over the cliff. So all who voted yes clap yourselves on the back.
Excellent, they should give themselves a raise.
Oh, they already did.
Let the cuts begin.....
It seems President Obama may have squelch the last minute deal by suggesting more tax increases would be discussed when the next debt ceiling debate takes place. According to Maria Bartiromo of CNBC, many Republicans were saying why should they vote for a tax increase now when they will be voting again for more tax increases in a few months. Seems Obama may have intentionally sabotaged the attempt at not going over the cliff.
I know such dirtbags..... give you one guess where their political loyalties lie because they know who gives them such a life of luxury.
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