quote:
to call Sarkozy's policies "austerity" is to insult both austerity and socialism. The French government--like other European governments--sought to close its budget gap primarily by raising taxes, not by cutting the size and cost of government.
Comment:
Doesn't surprise me. If you rely upon the media hacks like Krugman to tell you anything, you are hopeless. That's why I don't watch media and what I've read of Krugman is a bad joke. Krugman is advocating currency debasement and accelerating debt. It's like taking a sledgehammer to kill a tiny, bothersome insect.
What is needed is a growth driver, like the world wide web was in the nineties. But the government isn't good at picking these, so let the market do it. What the government can do is to help out with some significant, but small investments. Such was the case with the world wide web. Such can be the case against with new energy technologies. But not solar nor wind. These are too limited, and they are getting too many subsidies already. Spending like a drunken sailor only gets a hangover in the morning.
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