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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (20240)	2/19/2004 5:23:47 PM
From: philv	Read Replies (2) \| Respond to of 81886

Debt isn't just an American phenomenon. Europe is struggling as well. Both France and Germany (I believe Italy also) are exceeding their agreed upon EU limits. This from Germany. quote.bloomberg.com German deficit is 3.9% of GDP. I don't know how this compares to US deficit, but it seems everybody without exception is living beyond their means. I know I am old fashioned, but a debt is supposed to be repaid, a "temporary" situation, not to be passed on to one's children. The state never dies, and the debt simply grows and grows, and the number becomes so large that you have to be an astro physicist to comprehend its vastness. We cannot just blame our governments, because nobody wants to make the sacrifices necessary to reign in let alone repay the debt. There is apparently no fear that the debt will be called in whole or part, so the party continues, and our governments can contemplate whatever foolish expenditures they wish on our behalf. BTW, I know you are aware of Japan's huge deficit, but did you know that even Saudi Arabia has a huge yearly budget deficit? See below. news.bbc.co.uk