Europe Sets Example with Budget CutsPosted by on June 17, 2010
Europe Sets Example with Budget Cuts
This week the Economist highlighted Germany’s new budget cut proposal by Chancellor Angela Merkel. If her plan is enacted, the country will save an estimated 80 billion euro ($96 billion) from its federal budget by 2014. While reactions have been mixed to Merkel’s unveiling, the Economist described the plan as follows:
Merkel hopes to set an example for Europe, yet Europe is already setting an example for the U.S. The Obama Administration continues to spend profligately, and House Democrats are two months overdue in presenting an FY ‘11 budget. We are taking a back-row seat in deficit reduction. I addressed this crisis on the House floor yesterday, calling for a budget so that we can have a debate on improving our fiscal condition. You can follow this link to hear my full speech: http://bit.ly/cYDOed
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