Page 2 - Austerity Programs News Today

>> yeah. >> by international law, that money has to go into building schools and hospitals in africa, in the poorest parts of the world, and right now what weve seen the pope do in his speech is actually follow up on specific policy recommendations hes made that are moving forward, both at the united nations and to some extent at the international monetary fund in congress. this pope actually called for the development of a global bankruptcy process at the united nations. he alluded to it yester...

Debate are blocking this thing and my concern is that theyll probably continue to do so this year. >> you know maria, this struck my attention because some on the right are saying republicans should take credit for the economic recovery. "the new york times" says anti-tax crusader grover norquist, quote, may well have heralded a republican shift on the economy. he credited the budding revival to the partys austerity push. [ laughter ] >> he wants republicans to take credit for improving the econ...

Brenda? and will we benefit? >> heres the deal. its all very well and good to say and i wish, and we will infuse the world economy by 2% or $2 trillion. i would like to look like jennifer aniston. i dont have that chance. i dont think this is going anywhere, either. its just a statement. it says were going to increase the world economy, but at in the point they have no road map to getting there. >> so all these countries can talk and throw out numbers, and no one is willing to put up the money? ...

Ultimately going to do and are they going to abide by the agreements reached in the austerity programs put in place. so there are lots of reasons why. we say its spying but its really about understanding whats happening in other countries that affects your national interests. >> now, so you proposed a flipside. let me do that, as well. how do you think the white house would reracket if they found out 35 foreign intelligence agencies were spying on our presidents phone calls? >> you know, i would...

Read most of the papers, reporting of this, they say the united states is doing better than most european countries that have been hurt by three or four years of austerity programs. how is the president standing with the group now compared to how it was three or four years ago when he was getting lectured by the french and germans? >> on the economy its pretty good. but theres a whole other part of discomfort, if you will, with some european leaders and it more has to do -- their reaction to pre...

Pieces of the puzzle. it can loan interest rates and help in other ways and somehow thats supposed to step through in five different steps to the consumer. in ordinary times thattic mas a big difference, but at a time when the federal government and the state and local governments are cutting jobs by hundred of thousand which is is what weve seen in the last few years and companies are basically hoarding cash. companies like microsoft, ibm, theyre able to borrow for close to nothing, but what th...

Japans failure to get sustained growth was that it never engaged in reforms of agricultural, retail, and other protected industries. keep in mind that between 1991 and 2008, the japanese government spent $6.3 trillion on construction alone, larger than the total size of its economy. thats why prime minister abe has been very clear that for japan to sustain its current revival, it must enact the changes that the country was unwilling to make in the last decade. it is true that many of the people ...

Theres a lot of lagging in a budget. and i do believe theres a lot of lag time here. we have some immediacy when it comes to the end of this month. some things we have to do. and we need to do that in order to keep the government running of the question is, do we need to pay all the debt in that time? i dont think so. i think that well see over in europe now what happens with these austerity programs when you dont do things in a way that is balanced, when you dont have investments versus cuts in...

Have you gotten any apologies from the people who were absolutely wrong? >> no. i wasnt alone but i was certainly the only person -- >> you were on the microphone. >> thats right. and -- no. look, ive been in this business now for quite a while and nobody ever admits that they were wrong about anything. thats just the way the world works. i it sure looks right. i wish i hadnt been right. this was a once in three generation crisis and we met it it with a program that was better than no program bu...

Ahead. we have a little bit of space. >> paul krugman said, we have a little bit of breathing room than european countries. that runs out at some point. >> you do have more space and the interest rates are lower and the american public arent feeling the pain of your debt than under george bush senior when interest rates were higher and markets can look at politicians and say we dont believe you have the capacity to deal with a long term problem. they can turn on america in a dime and send intere...