Blogs > Cliopatria > MERKEL PROVEN RIGHT: GERMAN UNEMPLOYMENT DROPPED TO 8.2%

Jun 9, 2009 9:50 pm


MERKEL PROVEN RIGHT: GERMAN UNEMPLOYMENT DROPPED TO 8.2%



In December 2008, both American and German unemployment stood at 7.2%. (Actually, US yearly vs. monthly unemployment was lower)

The US passed a gigantic stimulus package and has been printing money"to save" jobs. It urged Europeans to do the same. Merkel said no and incurred the wrath of the Keynesian economists.

So far, Merkel turned out to be right. She saved both money and jobs! German unemployment dropped from 8.4% to 8.2 and the number of jobless dropped by 127,000 in May.

Obama spent trillions to"save" jobs. The result? American unemployment reached 9.4 and the administration celebrates the fact that only 345,000 jobs.




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