Friday, June 18, 2010

Obama Urges G20 Nations to Maintain Stimulus

      Seeing that the jobs are coming back (?) and the US economy is booming again (?)  this administrations' policies must really be working?

president Obama signaled on Friday that countries in Europe should not withdraw their extraordinary spending programs too quickly. In a public letter to other leaders of the group of 20 nations in advance of a summit in Toronto next week, Mr. Obama wrote, “Our highest priority in Toronto must be to safeguard and strengthen the recovery.”
Mr. Obama also wrote, “We must be flexible in adjusting the pace of consolidation and learn from the consequential mistakes of the past when stimulus was too quickly withdrawn and resulted in renewed economic hardships and recession .”
That statement represented a signal to Germany and other European countries, which have moved in recent weeks to pare spending, mindful of the wrenching consequences of excessive public debts in Greece, Portugal and Spain.

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