> world over governments are not maintaining fiscal discipline.. they
> balancing the budget by just leaving a gaping whole and deficit. They just
> pass on the burden to next goverment and next generation. Today's
> international debt like the 500 billion from China etc is an accumulated
> result of spend thrift .living beyond means of previous governments. .. they
> would not just tax and augment the revenue and lose their next election. ..
> so no more printing motes.. they just use the sovereignty of the government
> and borrow and be happy in the present.. the fiscal discipline that World
> bank insists from developing and underdeveloped countries to be eligible for
> loan, should be applicable to advanced economies also. EU tries to do this
> without any success...
>
> --
> paarthasarathy, Bangalore, India
>
-- paartha