Germany exits recession without frivolous government spending
Alex Seifert | August 13, 2009 | 5:27 pmThe BBC is reporting that Germany is exiting the recession that has affected the entire world for the past couple of years. Germany, along with France, is one of the first countries to emerge from this economic downturn and yet the German government did next to nothing to try to pull the country out of the recession.
An article in the Wall Street Journal states the German stance on it:
“Germany has the most capacity in Europe to increase spending, but Berlin has argued against running up big deficits…”
“Last year, according to the IMF, the U.S. pumped an extra 1.1% of GDP into the economy. Germany did next to nothing.”
I think the American government needs to take a page out of Germany’s book. For being a socialist country, Germany seems to have less government intervention in the economy than we do.
Economic recession created huge unemployment rates around the world. I think the world economy is already on the road to recovery.