Friday, September 6, 2013

G-20 leaders agree to continue giving your tax dollars to bankers

The leaders of the world’s 20 largest economies issued a joint statement on Friday saying it was too early to ease off government stimulus spending, in spite of recent positive economic news.

The opening lines of the statement, which was issued at the end of the Group of 20 meeting hosted by Russia, said that “strengthening growth and creating jobs is our top priority” with no mention of tackling deficits.

The statement comes as the United States Federal Reserve considers pulling back from its stimulus efforts, which have helped keep interest rates low and spurred growth.

The G-20 statement offered little consolation. It said central banks would better “communicate” their intentions but made no promises of easing the sell-off in countries with poorer investment climates.

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