[DemolitionRed]

Originally Posted by MTVN

Well not when you have a massive budget deficit, ours is one of the highest in Europe

Deficits matter but what really matters is what your spending on. Italy’s deficit is lower today than Britain. Italy’s deficit has been lower than Germany’s deficit for the last 20 years; what does that tell us? It shows us that the deficit has never been the problem, the problem is Debt to GDP and the question is, what kind of investments will transform the entire economy and enhance the GDP?

We can only achieve long term growth if we stop making spending a false dilemma. If we don’t restore stable growth, the deficit will continue to rise. Fixing market failures will inevitably continue to fail if we don’t have a change in corporate governance and if we don’t form a new relationship between capital and labor.