The News Courier in Athens, Alabama

Sports

June 14, 2013

European growth still on US agenda, not as loudly

(Continued)

As a result, administration officials and former government economic advisers say Obama and his aides will still push European nations to moderate their austerity programs of spending cuts and tax increases in favor of more stimulus to boost growth and counter the high unemployment that still afflicts many countries in Europe, particularly Spain and Greece.

Germany and Britain have resisted some of the U.S. entreaties, arguing that heavily indebted European nations must trim deficits to restore market confidence and lower government borrowing costs.

"I think, I hope, that the Obama administration realizes that its policy messages about cooling it on the austerity and start stimulating haven't worked in Europe," said Heather Conley, director of Europe programs for the Center for Strategic and International Studies in Washington who worked in President George W. Bush's State Department. "And this has been actually an area of growing tensions underneath the surface. It's private. They don't allow these to come more publicly, but it's really been quite, you know, a point of contention."

Japan's growth, however, stands as a potential example of the benefits of raising domestic demand. Questions remain whether the efforts of Japanese Prime Minister Shinzo Abe are sustainable. So-called Abenomics have also raised worries among U.S. manufacturers that Japan's real goal is to weaken the yen as a way to gain trade advantages.

Administration officials say they believe that they can make a compelling case by using the United States as an example of how to help the economic recovery without deep budget cuts. The Obama administration responded to the recession with a massive stimulus package in 2009. Officials argue that increased economic activity and a turnaround in the housing industry have helped increase revenues and lower the deficits.

But the U.S. deficits have also been lowered through steps that could also be deemed austerity measures, including a tax increase on wealthy Americans, restoration of a payroll tax on all workers and automatic budget cuts that kicked in March. By many economists' assessments, those steps have cost the U.S. economy 1 percentage point in potential growth.

Text Only
Sports
  • Manning getting used to new faces on Broncos

    The quarterback who thrived on the familiarity of playing with the same receivers is now having to adjust to a revamped offensive roster to start his third year in Denver.

    July 24, 2014

  • Auburn's Nick Marshall pays citations in Georgia

    That means Marshall won't have to appear at a September court hearing.

    July 24, 2014

  • Jaguars sign former Crimson Tide DB Belue, waive RB Blankenship

    Deion Belue played two seasons at Alabama after beginning his career at Northeast Mississippi Community College. He started his final two seasons with the Crimson Tide, totaling three interceptions, 13 passes defensed and 7 1/2 tackles for loss.

    July 24, 2014

  • CEO: Sterling staying on a 'disaster' for Clippers

    Coach Doc Rivers has said he'll resign from the Los Angeles Clippers if Donald Sterling remains owner, the team's interim CEO testified, saying such a move would be a "disaster" for the franchise.

    July 23, 2014

  • Survey finds sharp increase in teen use of HGH

    In a confidential 2013 survey of 3,705 high school students, 11 percent reported using synthetic HGH at least once — up from about 5 percent in the four preceding annual surveys.

    July 23, 2014

  • CEO: Clippers coach to quit if Sterling stays

    CEO Richard Parsons testified at a trial to determine whether Sterling's wife, Shelly, can sell the team for $2 billion to former Microsoft CEO Steve Ballmer as the NBA looks to force Donald Sterling from the league over racist statements.

    July 23, 2014

  • dunk.jpg Tedford, Potts take on the South

    While the North team has a lengthy winning streak in the basketball series, Tedford and Potts will face a tough battle against three players already committed to SEC schools on the South team.

    July 23, 2014 1 Photo

  • Arkansas State player earns conference honors

    Qushaun Lee led conference in tackles with 134 —the sixth most tackles in conference history and most by an Arkansas State player since 1991.

    July 22, 2014

  • Clippers' future on line as probate trial resumes

    The future of the Los Angeles Clippers is closer to decision as testimony resumes Monday in a probate trial over whether a deal negotiated by Donald Sterling's estranged wife to sell the team for $2 billion is authorized under a Sterling family trust.

    Sterling, the volatile owner of the team, agreed to the sale but then tried to revoke consent in spite of a signed letter instructing his wife Shelly Sterling to sell for the highest price she could get.

    July 21, 2014

  • Tuesday could be time to 'play ball' for Biloxi

    July 21, 2014

Photos


Poll

Do you believe America will ever make another manned flight to the moon or another planet?

Yes
No
     View Results
Facebook
AP Video
Death Penalty Expert: 'This is a Turning Point' House Committee at Odds Over Obama Lawsuit Raw: MH17 Victim's Bodies Arrive in Netherlands Raw: UN School Used As Shelter Hit by Tank Shell Raw: Gunmen Attack Iraqi Prison Convoy Plane Leaves Ukraine With More Crash Victims The Rock Brings Star Power to Premiere Raw: Families Travel to Taiwan Plane Crash Site Arizona Execution Takes Almost Two Hours Gen. Odierno Discusses Ukraine, NATO at Forum Gaza Fighting Rages Amid Cease-Fire Efforts Mint Gives JFK Coin a Face-lift Creative Makeovers for Ugly Cellphone Towers Ariz. Inmate Dies 2 Hours After Execution Began Crash Kills Teen Pilot Seeking World Record LeBron James Sends Apology Treat to Neighbors Raw: Funeral for Man Who Died in NYPD Custody Migrants Back in Honduras After US Deports Israeli American Reservist Torn Over Return
Twitter Updates
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Stocks
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Business Marquee