Wednesday, September 1, 2010

Germany's Economic Growth Without Stimulus Is 6 Times Greater Than US With Stimulus

From The Beacon Blog, "Macroeconomic Policy, European-Style" by Randall Holcombe:
Figures announced this week show that in the second quarter the US economy grew at a 1.6% annual rate. Economic growth in the 16-nation euro zone was 3.9%. That includes Greece, Spain, and Portugal, who are part of that 16-nation group. Germany, by itself, grew at a 9% annual rate.
Is the Obama stimulus package working? One way to judge is to compare US economic growth with economic growth in Germany, where Chancellor Merkel has rejected deficit spending for stimulus as fiscally irresponsible.
Read the complete Beacon blog post here.

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