A Look at the World's Largest Stimulus Plans Outside the United States
The package will increase France's budget deficit by another 15 billion euros,($20.4 billion), up to 3.9 percent of GDP.
The country's national statistics agency said in mid-December that France's economy shrank by 0.8 percent in the fourth quarter last year, the worst rate since 1974. And France's unemployment rate was estimated at 7.7 percent in September.
If the package isn't enough, Sarkozy has said that the government is ready to infuse even more money into the system.
Reader Comments
Sorry bout this... but you're just plain wrong
First of all, no matter how the government sells a stimulus the goal is NOT to create a sudden rebound in the economy, but to to save elements of the economy from collapsing altogether. The political idiots of history claim that FDR's package didn't do anything at all. Dumasses all. Why? Because they, like the previous commentators are looking for effects that just plain are not intended. OF COURSE those in power tote any such plan as one that will boost the economy, but that is because their constituents are idiots and they couldn't possibly explain to them the complexities of economics.
The primary objective of increased government spending is to put money in places that it is currently missing and save economic entities from simply evaporating. And, although not perfect, it works. Tax cuts have about 60% of the effect when it comes to helping the economy and that is in healthy economic times. During recessions tax cuts do near to nothing to get things back on track.
It's not about right and wrong and who deserves this and who deserves that. It's a complex money "game".
Money sent directly to the people disappears into thin air. Has this stimulus been targeted accurately and effectively? In some ways yes in others no, but stop watching TV news and take a class on economics if you really want to comment on this process.
Wanna blame somebody? Blame the government that encouraged this entire economic model and allowed the working folks in this country to get RAPED by the powerful and rich over the last 20 years. And yes, that includes BOTH parties and everyone involved, Clintons, Bushes and Reagan. Pull the wool off of your eyes folks
Inflation is coming
With all the paper money flowing around the world, people will be happy for a little while. But afterward, all the crimes and scams will increase to the level you have never seen before. If you think this time is bad, just wait and see the next bubble. When are we going to have some law and order so that honest people can make a decent living without worrying about crisis after crisis?
Personal check
Hurry my check up! Then lower my taxes. Then pay for it by cutting all the endless and needless spending in Washington. Start with all the special interset pork dollars wasted to pad the pockets of those who never get enough to suit them. Then stop giving handouts to folks that make a decision to stay home and contribute nothing to help themselves. If folks get welfare make it mandatory to provide public service jobs in return which will save us money which could in return somewhat fund the handouts. I am all for helping those who make an effort.Lets take Big Money out of politics and make our public servants work for normal $10-$15 an hour like so many they are serving . I wonder how many would want to "Serve".If I get tight on money I have to cut back. It seems in goverment if things get tight we just write a check.What a deal!!
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