Follow us on...
Follow us on Twitter Follow us on Facebook Watch us on YouTube
Results 1 to 2 of 2
  1. #1
    Atomic Punk bklynboy68's Avatar
    Join Date
    Favorite VH Album

    The Magnificent 7
    Last Online

    05.23.18 @ 09:30 PM
    Liked 12,989 Times in 7,304 Posts

    Premium Member

    Default Germany Says 'Great Uncertainty' About US Debt

    German Finance Minister Wolfgang Schaeuble questioned on Tuesday how the United States could deal with its high levels of government debt after November's presidential election.

    In a speech to the Bundestag lower house of parliament to open a debate on the 2013 German budget, Schaeuble said worries about U.S. debt were a burden for the global economy, hitting back at Washington which has criticized Europe for failing to get a grip on its own debt crisis.

    In private, German officials often express concern about U.S. debt levels and the inability of politicians there to reach a consensus on how to reduce it, but Schaeuble's public remarks underscore the extent of the worries in Germany.

    "Ahead of the election in the United States there is great uncertainty about the course American politics will take in dealing the U.S. government's debts, which are much too high," Schaeuble said. "We need to remind ourselves of that sometimes and the global economy knows that and is burdened by it."

    A weak economy and political gridlock in Washington have prevented meaningful debt reduction in the United States, which has run budget deficits topping $1 trillion for three straight years.The issue has become a central theme of the U.S. election campaign with Republican candidate Mitt Romney accusing President Barack Obama of fiscal mismanagement, and the White House slamming Republicans in Congress for blocking government efforts to get the U.S. fiscal house in order.

    Last year, U.S. lawmakers reached an 11th hour deal to increase the Treasury Department's borrowing authority, which had bumped up against a legal limit, averting an unprecedented default.

    But Treasury Secretary Timothy Geithner has said the United States is likely to hit a $16.4 trillion borrowing limit by the end of the year.

    The Paris-based Organization for Economic Cooperation and Development (OECD) has warned against a sharp fiscal retrenchment in the United States, saying this could derail the fragile recover there.

    Unless politicians agree on a plan, a wave of U.S. spending cuts and tax hikes — dubbed the "fiscal cliff" — are set to take effect in January, within months of the November 6 election.

    German Chancellor Angela Merkel has established a close relationship with Obama and they are of one mind on many foreign policy issues.

    But members of her conservative party have welcomed the Romney campaign's focus on debt reduction.

     "He has a swaggering retro machismo that will give hives to the Steinem cabal" -Camille Paglia on Donald Trump

    "Make way for the bad guy"- Tony Montana

    'This hamburger don't need no helper"- David Lee Roth

    "I wish Bon Jovi would've given me a call before he recorded all of his hits, because the lyrics would've been smarter, the melodies would've been much more smashing, and they would've sold a lot fewer records." -David Lee Roth

    "My beef is people thinking Bon Jovi is good cuz they sold lots of records to housewives." -tango

    "But being number one doesn’t really mean jack fuck all. We sold twice as many records as other records that year (1984) that landed in the Number One position." ~Eddie Van Halen

  2. #2
    Atomic Punk Dave's Dreidel's Avatar
    Join Date
    P.F. Chang, South Korea
    Favorite VH Album

    Alex, Dave, Ed and Mike
    Favorite VH Song

    The songs with Ed on them
    Last Online

    05.23.18 @ 07:35 PM
    Liked 20,522 Times in 10,217 Posts

    Premium Member


    If there is one thing to point a finger at with Obama that cannot be argued is his absolute lack of action on our fiscal problems.

    The world does not need a two year debt reduction plan, but they need to see that we have A plan. Even if it is twenty years, we need a plan.

    One of the many things in which I am disappointed in him.
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

    David Lee Roth did the impossible. He made Van Halen better. Deal with it!

    A man's rights rests in three boxes: the ballot box, the jury box, and the cartridge box

    Hurricane Halen - Let's all gingery touch our sword tips!!!



Similar Threads

  1. U.S. bid to cut debt draws fire
    By It's Mike in forum VH Fans Meeting Place (Non-Music)
    Replies: 30
    Last Post: 05.26.11, 10:09 PM
  2. Al Qaeda in Germany. Oh goody.
    By graeme in forum VH Fans Meeting Place (Non-Music)
    Replies: 8
    Last Post: 09.30.09, 02:25 PM
  3. Question regarding credit/old debt...
    By chefcraig in forum VH Fans Meeting Place (Non-Music)
    Replies: 11
    Last Post: 09.02.06, 05:25 AM
  4. The Debt To the Penny
    By voivod in forum VH Fans Meeting Place (Non-Music)
    Replies: 1
    Last Post: 05.26.05, 06:06 PM
  5. school shooting in germany
    By JMJ in forum VH Fans Meeting Place (Non-Music)
    Replies: 3
    Last Post: 04.26.02, 10:20 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts