More cuts... Greek Economy
When are they going to realize that austerity breeds austerity? Now the jerks are trying it here. Even Reagan used Keynesian economics to create HIS recovery. Government spending is required when the private sector won’t hire, just as government investing saved GM when the private sector wouldn’t do it.
Government stimulus during slow economy with debt paid back or even ahead during good economic times. Unfortunately US and most of the rest of the world does not get this correctly. The PIIGS stimulated thier economy when they should have been paying down debts. Now they are trying to pay down debts when they have slow economies, which will only slow thier economies even more.Of course US did the same under Bush. Now the stimulus has to be so large it is scary. Stimulus at the wrong time and for the wrong reasons, elections and wars.