Germany’s Chancellor Gets It, Too Bad Obama Doesn’t
Angela Merkel isn’t having any of this “better living through more government” nonsense that’s all the rage these days both in America and in the international community. And it looks like Spain isn’t having any of it either.
GORDON BROWN’S carefully laid plans for a G20 deal on worldwide tax cuts have been scuppered by an eve-of-summit ambush by European leaders.
Angela Merkel, the German chancellor, last night led the assault on the prime minister’s “global new deal” for a $2 trillion-plus fiscal stimulus to end the recession.
“I will not let anyone tell me that we must spend more money,” she said.
The Spanish finance minister, Pedro Solbes, also dismissed new cash being pledged at Thursday’s London summit.
Government spending more money means, inevitably, more taxes. More taxes means less profitability and income for businesses and citizens. Less profitability and income means fewer jobs and less economic growth.
This really isn’t rocket science.
