Budget Cuts?
So what was decided? Well, according to various reports in the mainstream media, it was the "deficit hawks" who got their way. Apparently the consensus of the G20 meetings was that a round of tough budget cuts is the medicine that the world economy needs. In fact, the G20 leaders all pledged to cut their respective budget deficits in half by 2013. Canadian Prime Minister Stephen Harper, one of the key advocates of budget cuts, said that the G20 nations need to walk a "tightrope" between stimulating their economies and debt reduction. But as the largest economies around the globe transition from reckless government spending to budget reductions and austerity measures, what is that really going to mean for the world economy?
Link:
http://theeconomiccollapseblog.com/archives/budget-cuts
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