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2026-08-06 Economy

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Posted by DooDahMan 2026-08-06 04:28|| E-Mail|| Front Page|| [267 views ] Top

1 "While Germany's debt spiral is accelerating ever faster..."

Germany's public debt stands at approximately 2.75 trillion euros (as of mid-2026). This corresponds to a debt-to-GDP ratio of about 63.5 percent of gross domestic product (GDP).

This is up from 62.2% in 2024 but down from 68.0% in 2020 (Covid).
It will go up because of military expenses which have nothing to do with "socialist" policies.

As for Argentina, The Economist sees good and bad developments in Argentina.

Posted by European Conservative 2026-08-06 11:28|| 2026-08-06 11:28|| Front Page Top

2 It's OK, EC. Americans are in no position to criticize anybody when it comes to debt. Our congress critters are all crooked morons. People got pissed off at Elon Musk for his DOGE attempts to reduce spending. But, unless we get spending and debt under control, we are headed for financial ruin.

Posted by Abu Uluque 2026-08-06 12:58|| 2026-08-06 12:58|| Front Page Top

3 Yeah, DOGE. WTF happened to that effort ?

Posted by Besoeker 2026-08-06 16:26|| 2026-08-06 16:26|| Front Page Top

4 DOGE got the ball rolling, then the various departments brought in their own teams, and finally VP JD Vance pulled together a team of his own. From MSN a week ago:

Vance claims Trump fraud task force uncovered $230B as White House expands crackdown

Vice President JD Vance said the Trump administration's fraud task force has now uncovered $230 billion in alleged fraud and blocked $56 billion from being paid out, marking its biggest accounting of the initiative to date.

The announcement came during President Donald Trump's Cabinet meeting at Camp David on Friday, July 31.

Vance argued that the administration's latest figures showed the scale of fraud it says has been identified across federal programs and promised additional enforcement measures.

Separately, the Florida DOGE team announced they have identified nearly $1 billion in waste and abuse within the state as of the end of July, and returned over $878 million to the federal government — and they did it using volunteers and tech-minded interns.

Posted by trailing wife 2026-08-06 22:15|| 2026-08-06 22:15|| Front Page Top

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