While Donald Trump is doing absolutely nothing to mitigate unemployment, people losing insurance, people starving, and much more, Angela Merkel is doing her job. Check this out.
The German’s new stimulus is using MMT (what I consider a form of Keynesian economics) to ensure her citizens don’t suffer. Trump better wake up. Germany has a strong social safety net and they are stimulating their economy above and beyond that.
The United States has no guaranteed healthcare, child care, pay-it-forward tuition, and other programs that Germany and other sensible countries have. The impending suffering of many of our Americans will not go unnoticed.
Angela Merkel has become the spend, spend, spend chancellor | Larry Elliot | World news | The Guardian
h its €130bn stimulus package, Germany is showing others how to do the recovery
And in one bound she was transformed. For Angela Merkel, the days of being lampooned as the archetypal Swabian housewife keeping tight control over the purse strings are over. Now, courtesy of a €130bn (£116bn) stimulus package, she is the spend, spend, spend chancellor.
Make no mistake, much of the past criticism of Germany’s frugal approach to government spending and budget deficits was justified. Saving some money for a rainy day is one thing but running surpluses worth 8% of national output was unnecessary and harmful to the global economy.
Nobody can accuse Europe’s biggest economy of stinting on this occasion. The package was bigger than expected and, at about 4% of GDP, doubles the size of Germany’s tax and spending stimulus since the start of the crisis.
Viewers are encouraged to subscribe and join the conversation for more insightful commentary and to support progressive messages. Together, we can populate the internet with progressive messages that represent the true aspirations of most Americans.
