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Politics : Foreign Affairs Discussion Group

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To: Katelew who wrote (252638)	12/30/2007 2:21:43 PM
From: Nadine Carroll	Read Replies (1) of 281500

In this country we lack the political will and we are in a weaker position financially to subsidize the transition to alternative energy technologies. Why should it have to be subsidized? I can see subsidizing early research, but we've been doing that for 30 years and more. Nobody should have to subsidize the transition, because if it needs to be subsidized then it's not economical and shouldn't be done in the first place. Let somebody only come out with an economical alternative (and a high price of oil is very helpful to the numbers) and entrepreneurs will find all the capital they need from the usual sources. The EU member countries as a group are financially stronger, i.e. lower debt to GDP ratios, and they are in better shape financially to 'digest' the coming retirement costs of their aging populations Kate, what are you smoking? The EU countries are in worse financial shape than the US however you look at it. Their average debt is higher, measured as % of GDP, their demographics are terrible, they are reproducing well below replacement levels, their pensions which are more generous than Social Security are bankrupting their governments, esp. as Europe is having terrible problems assimilating immigrants compared to the US. Furthermore, the US consistently grows its GDP faster than Europe, and growth makes any debt far more manageable. 2005 real GDP growth adj. for inflation (from infoplease.com US 3.5% Germany 0.9% France 1.4% Italy 0.1% Spain 3.4% Belgium 1.5% Austria 1.9% Debt as % of GDP (from en.wikipedia.org US 65% Germany 67% France 65% Italy 108% Spain 40% Belgium 90% Austria 60%

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