Europe cuts deep, the U.S. spends on
Published: June 22, 2010 / Author: Paul LaMonica
The British are cutting! The British are cutting! Should the United States do so too?
Now that the United Kingdom has decided to use an ax the size of Big Ben to hack away at its budget, the United States stands out among the world’s leading economic powers for trying to spend its way out of the downturn.
“The U.S. wants economic growth at any and all costs,” said Axel Merk, president of Merk Mutual Funds, a Palo Alto, Calif.-based money manager specializing in currency investments.
“The economy is still struggling. There is not enough growth in the near-term to get the unemployment rate down,” said Jeffrey Bergstrand, a professor of finance with the Mendoza College of Business at the University of Notre Dame. “A focus on trimming the deficit is not likely to happen anytime soon.”
Read the entire article at: http://money.cnn.com/2010/06/22/markets/thebuzz/