The German Example
KFI radio host Charles Payne makes a fascinating comparison between the economic health of Germany and the United States. To summarize his remarks:
German unemployment is 7%.
American unemployment is 9.2%.
Stimulus plans in France and Germany were very small compared to the American plan. Last year President Obama lambasted the governments in France and Germany, pushing them hard to imitate the American approach. They refused to go along with him.
Government leaders in France and Germany have a deep knowledge of socialism and are turning away from it to revive their economies.
This week, Germany posted its best retail sales ever since reunification back in 1991. Their economy is up 6.3%. Their Bundes Bank says the German economy will grow 3.1% this year.
For the first half of 2011, the economy of the United States is growing at 0.75%
The Germans have achieved robust economic growth using almost the exact opposite of the approach President Obama is using.
And from the Weekly Standard last year:
"Germany has been scolded, even browbeaten, by Obama administration officials, from Treasury Secretary Timothy Geithner on down, for saving too much and spending too little."
The Germany That Said No | The Weekly Standard
Charles Payne – Profile Page at KFI.com
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