There was an error in this gadget

Follow Paul Gregory by Email

Thursday, May 24, 2012

If You Want to Understand Germany Think of Texas and California


As Greece’s exit from the Euro appears more likely, the draconic and heartless Germans are being raked over the coals throughout Europe. Germany’s stingy Merkel refuses to lend a helping hand to a drowning neighbor. Merkel and her austere Germans are not  real “Europeans.” Were it not for the Germans, Greece would have its stimulus, which it would promise to pay back when it is out of danger – sometime far down the road.

If you really want to understand the Germans, think of Texas and California. Texas must constitutionally balance its budget. A state official estimates forthcoming revenue, and the legislature must trim spending accordingly. Texas makes minimal use of gimmicks; it makes real cuts when cuts are necessary. California also must balance its budget, but it does not. It uses extreme gimmicks to overstate anticipated revenue and spending cuts that will not take place.

Compared to Texas, California is a spendthrift, spending fifty percent more per capita than Texas. Despite much lower state spending, Texas seems to do quite well. It attracts the jobs California is losing.

Imagine the reaction if some higher authority told Texas to pay for the shortfall in California’s budget? This is exactly what the Californias of Europe and  European Union bureaucrats are demanding of Germany. Germany’s reaction is exactly that of Texans to bailing out California.

Thanks but no thanks.

5 comments:

  1. The Welfare State in Greece: "Throughout the 1980s Greece had
    been in the phase of regulating the
    welfare system by introducing important legislative acts. After the
    reestablishment of democracy in
    1974, the social objectives were redefined and new policies were introduced aiming at the expansion
    of social insurance coverage, improving the access to social services, balancing regional inequalities and reallocating resources towards the needy and the lower income classes."

    Ops!
    p.s. difficult to have "Ops" without "Opus," especially, if the retirement age is set at 55.

    ReplyDelete
  2. Germans did what they have done since Luther. They worked hard, put their shoulder to the wheel, didn't whine for more benefits but practiced thrift and saved. Merkel is right not to bail out Greece, in my opinion. She also rejected calls from the G8 last year for more stimulus spending and look who is doing better. Think of Germany, after WWI, growing to the power it was (not for good) in WWII. Look at Germany adopting East Germany dregs left when the USSR fell apart and building them back up.

    ReplyDelete
  3. God bless Texas!

    ReplyDelete
  4. Hello Everybody,
    My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

    BORROWERS APPLICATION DETAILS


    1. Name Of Applicant in Full:……..
    2. Telephone Numbers:……….
    3. Address and Location:…….
    4. Amount in request………..
    5. Repayment Period:………..
    6. Purpose Of Loan………….
    7. country…………………
    8. phone…………………..
    9. occupation………………
    10.age/sex…………………
    11.Monthly Income…………..
    12.Email……………..

    Regards.
    Managements
    Email Kindly Contact: urgentloan22@gmail.com

    ReplyDelete