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US Treasury chief urges EU to ease off austerity
AP via Yahoo news ^ | April 8, 2013 | Juergen Baetz

Posted on 04/08/2013 4:08:03 AM PDT by John W

BRUSSELS (AP) — European countries should ease off their austerity and adopt more growth-friendly policies, U.S. Treasury Secretary Jacob Lew said Monday as he kicked off a series of meetings with the region's top leaders.

America's biggest trading partner and the world's largest economic bloc has entered the fourth year of its debt crisis, which has plunged many of the 27 EU governments into recession. The U.S. administration hopes Europe will relent in its focus on debt reduction, which has been hurting growth through spending cuts and tax increases.

Lew, who became treasury secretary in February, started his first official trip to Europe with a meeting with EU Commission President Jose Manuel Barroso in Brussels. He was also meeting the EU's top economic and monetary official, Commissioner Olli Rehn and EU Council President Herman Van Rompuy.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events
KEYWORDS: eucrisis; jacklew; qe; treasseclew; uscrisis

1 posted on 04/08/2013 4:08:03 AM PDT by John W
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To: John W

http://news.yahoo.com/us-treasury-chief-urges-eu-ease-off-austerity-105515650—finance.html


2 posted on 04/08/2013 4:08:37 AM PDT by John W (Viva Cristo Rey!)
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To: John W

Lawyer Lew has decided to weigh in on European affairs ...


3 posted on 04/08/2013 4:37:02 AM PDT by Ken522
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To: John W

What austerity? What does that word mean to politicians?


4 posted on 04/08/2013 4:40:12 AM PDT by 1010RD (First, Do No Harm)
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To: John W

uncontrolled spending is bad, real bad

reduced spending is good, real good

bring on the austerity - hurry!!


5 posted on 04/08/2013 4:45:00 AM PDT by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
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To: elpadre
I would like to know what percentage of required (internally consumed) goods and services are imported/outsourced in each of these countries, and the USA. In the US, what percentage of welfare and unemployment compensation goes to China, for instance, because the recipients of government aid are using part of it purchasing Chinese products? My point is that there is probably a critical level of imported vs. home-grown, beyond which economic stability is impossible.
6 posted on 04/08/2013 5:16:46 AM PDT by pieceofthepuzzle
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To: 1010RD

For the European countries that are struggling, austerity has meant tax increases; for those doing quite a bit better, it has meant cuts in government spending.

It is purposeful that the two very different approaches are intermixed in reporting: they want us to think that spending cuts are culprits for the problems that tax increases have caused.


7 posted on 04/08/2013 5:30:05 AM PDT by 9YearLurker
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To: pieceofthepuzzle

The mixed messages being sent by the Western governments (including ours) are bizarre; somehow we went from “live within your means” to “spend money (even via credit card) and show your patriotism”. Apparently the whole idea of decent jobs is off the table; now people should promptly p!ss away their gubmint welfare dollars to keep their bodegas and liquor stores open.

I’ve started receiving literature from NJ shore places we’ve been to in the past, and they are all more expensive than in previous years (I guess due to diminished supply from Hurricane Sandy). The pre-storm prices were high enough; they may as well take their time rebuilding because there won’t be many vacationing there this summer (or next, either).


8 posted on 04/08/2013 5:33:30 AM PDT by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: John W
European countries should ease off their austerity and adopt more growth-friendly policies, U.S. Treasury Secretary Jacob Lew said Monday...

This coming from the country that has the highest corporate tax of any nation. This coming from the country that has regulations that dwarf those of other nations. This coming from a country that thinks it can spend it's way to prosperity.

But hey, if they want to fall for that advice, knock yourself out.

9 posted on 04/08/2013 5:38:41 AM PDT by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: 9YearLurker

What’s the definition of austerity? Is there a financial or economic understanding of that term?

Is “austerity” really austere?


10 posted on 04/08/2013 5:56:56 AM PDT by 1010RD (First, Do No Harm)
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To: 1010RD

-——What’s the definition of austerity?———

Rational reduction in government spending


11 posted on 04/08/2013 6:03:33 AM PDT by bert ((K.E. N.P. N.C. +12 .....History is a process, not an event)
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To: elpadre

Documentation File on the harmful impact of the Counterculture of Obamanation on America.

___________________

Barry Soetoro, aka B. Hussein Obama, 5 days before the end of GWB’s Presidential term, told ‘The Gullible’ the following: “We are five days away from FUNDAMENTALLY TRANSFORMING THE UNITED STATES OF AMERICA!”

Going on 5 years now, the best friends that Obama could have had to help him achieve his above stated dastardly goal were the RINO leaderships in the US House and Senate, AND THEY ARE STILL IN POWER!

_____________________

IMHO, the Counterculture of Obamanation will continue to destroy America for as long as the US Congressional RINOs allow it to, and not one minute more!


12 posted on 04/08/2013 6:07:55 AM PDT by Graewoulf (Traitor John Roberts' Commune-Style Obama'care' violates U.S. Constitution AND Anti-Trust Law.)
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To: kearnyirish2
The mixed messages being sent by the Western governments (including ours) are bizarre; somehow we went from “live within your means” to “spend money (even via credit card) and show your patriotism”.

I'm thinking it relates to Krugman's latest dumb pronouncement that regulations are not a problem for small business, lack of sales are. They know people are starting to catch on to their plan to destroy the free market from the bottom up, so they need to encourage more deficit spending to cover up the effects of the regulations they are imposing - at least, for a little while longer.

13 posted on 04/08/2013 6:09:35 AM PDT by Mr. Jeeves (CTRL-GALT-DELETE)
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To: John W

They (and the US) can’t possibly cut enough pure spending without causing massive economic recession/depression. Pro-growth and controlling future spending is the only way out. Now if Lew would just take his “pro-growth” message to his boss. Obama’s policies are stifling growth. 1-2% GDP growth is below the natural rate.


14 posted on 04/08/2013 6:13:55 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: 1010RD

What does the word “growth” mean? They’ve made it clear they don’t favor economic growth. Who what does he want the Euros to grow?


15 posted on 04/08/2013 6:23:30 AM PDT by DManA
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To: John W

Bizarro World is real and we are living in it.


16 posted on 04/08/2013 6:47:59 AM PDT by Iron Munro (Welcome to Obama-Land - EVERYTHING NOT FORBIDDEN IS COMPULSORY)
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To: John W

Austerity is the flashlight that when enacted, shines the light on just how entrenched and debilitating the welfare state has become.


17 posted on 04/08/2013 7:40:03 AM PDT by headstamp 2 (What would Scooby do?)
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To: 1010RD

Austere traditionally means something like minimalist, without comforts or ornamentation, but politically it’s being used in the slight-of-hand way I described.


18 posted on 04/08/2013 9:04:19 AM PDT by 9YearLurker
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To: 9YearLurker

I know the true definition. I just have not found the European country that is practicing it.

I suspect it’s part of the socialist mind game, ie “we tried austerity and it didn’t work, therefore we need to go to confiscation and taxation.”


19 posted on 04/08/2013 10:25:52 AM PDT by 1010RD (First, Do No Harm)
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To: 1010RD

Yes, that’s right. I believe a few countries, such as Estonia and even Sweden have actually been cutting spending—and doing quite well for it.


20 posted on 04/08/2013 10:45:35 AM PDT by 9YearLurker
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To: John W
started his first official trip to Europe with a meeting with EU Commission President Jose Manuel Barroso in Brussels. He was also meeting the EU's top economic and monetary official, Commissioner Olli Rehn and EU Council President Herman Van Rompuy.

First he has a meeting with a Marxist, then he meets with another commie and some fool with "the charisma of a damp rag and the appearance of a low grade bank clerk" (per Nigel Farage). I see a pattern there.

21 posted on 04/08/2013 11:57:28 AM PDT by Moltke ("I am Dr. Sonderborg," he said, "and I don't want any nonsense.")
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