[Old School]

Why is it that Germany and Hungary realize that tax cuts and controlled spending work, but yet in the good ole USA Barry's raising taxes and spending money like a drunken sailor....sorry, I meant no offense to drunken sailors.

In Hungary,
The tax law, which will cut personal income taxes and social contributions paid by employers to the government, was passed with 211 votes and 152 votes against, with backing from the Socialists' former coalition allies, the Free Democrats.
Bajnai's government, which took office in April, has cut spending and kept the budget deficit in check. This has helped the forint to firm from all-time lows hit versus the euro in March, and helped rebuild some investor trust in Hungary.

http://www.reuters.com/article/bondsNews...6720090629


In Germany
BERLIN -- German Chancellor Angela Merkel defended her plan to cut taxes despite the country's soaring budget deficit as she introduced her conservative alliance's manifesto ahead of national elections in September.
Lower incomes taxes would "provide motivation" and encourage economic growth, Ms. Merkel told a conference of her party, the Christian Democratic Union, and its Bavarian sister party, the Christian Social Union.
"It would be wrong not to do what is right and necessary for growth, and so prevent ourselves emerging quickly from this crisis," Ms. Merkel said in her conference speech.

http://online.wsj.com/article/SB124631002610270209.html