04-25-2012, 01:23 PM
I wasn't as much worried about Netherlanders, as I was the message rippling through the EU. Sort of like, if you aren't willing to live by the rules you promote then why should "we" bust our backs attempting to get to 3% either? Would this signal the beginning of the erosion of will? France appears to be going back to renegotiate the EU (Merkel led) deal anyway.
In the US, we're not even talking about reigning in deficit spending. Our government applauds themselves when they reign in the growth of deficit spending. During WWII, the US ran deficits of up to 110% of GDP. Currently we are around 115% of GDP. The main program that our government has to promote home ownership is that we are able to deduct a portion of our mortgage interest from our gross income when calculating taxes. There are also housing programs for selected groups (veterans, first time buyers, etc).
In the US, we're not even talking about reigning in deficit spending. Our government applauds themselves when they reign in the growth of deficit spending. During WWII, the US ran deficits of up to 110% of GDP. Currently we are around 115% of GDP. The main program that our government has to promote home ownership is that we are able to deduct a portion of our mortgage interest from our gross income when calculating taxes. There are also housing programs for selected groups (veterans, first time buyers, etc).
”There are more things in heaven and earth, Horatio, Than are dreamt of in your philosophy." - Hamlet (1.5.167-8), Hamlet to Horatio.
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