Why Are We Doing The Opposite Of What Works? - DailyKos [View All]

[WillyT]

Why are we doing the opposite of what works?
by brooklynbadboy - DailyKos
SAT JUL 09, 2011 AT 08:59 AM PDT

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Germany just approved its 2012 fiscal year budget, proving that the only way you get the deficit down is ECONOMIC GROWTH.

BERLIN - Germany's Cabinet has approved a 2012 budget that foresees spending remaining more or less flat and a significant decrease in new borrowing. The draft budget approved Wednesday calls for total spending of €306 billion ($443 billion), compared with €305.8 billion this year.

Net new borrowing is pegged at €27.2 billion. That compares with €48.4 billion this year and is below the €31.5 billion the government projected for 2012 in March.

Germany's strong economic growth has boosted tax revenues this year.

The Cabinet also decided in principle Wednesday to cut taxes for low- and middle-income earners in 2013. However, details have yet to be resolved.

Guess why Germany is now able to pay down its debt and cut taxes on low income people at the same. Yep, you guessed it...they raised taxes on the rich and on corporations:

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Much More: http://www.dailykos.com/story/2011/07/09/992868/-Why-are-we-doing-the-opposite-of-what-works?via=siderec

:kick: