tag:blogger.com,1999:blog-6616959642391988608.post2639749024805601987..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: U.S. pulls ahead of EuropeScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6616959642391988608.post-63571311059756595662013-03-18T13:27:40.182-07:002013-03-18T13:27:40.182-07:00I disagree. The relatively tepid growth of the U.S...I disagree. The relatively tepid growth of the U.S. economy has everything to do with the huge increase in federal government borrowing in the past 5 years. <br /><br />As I have argued repeatedly, federal government borrowing has only retarded U.S. economic growth. Taking from one person (borrowing) and giving to another person (via transfer payments) can not generate growth; if anything, it Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-12381483562174025342013-03-18T13:04:17.060-07:002013-03-18T13:04:17.060-07:00Of course the US's performance has NOTHING do ...Of course the US's performance has NOTHING do to with adding $5 trillion to the government's credit card. <br />Did you know which European country had one of the best performances of GDP since 2007? Cyprus (no joke, you can check it out at eurostat). Indexed to Q1 2007 = 100, their GDP stood at 117 in Q4 2012 versus Germany's 110. Nevertheless, they are bankrupt. <br />Lesson learnedGloeschihttps://www.blogger.com/profile/10705125909506053628noreply@blogger.com