“Germany’s statistics office said Tuesday that government spending and a slide in tax revenue had led to a 17.3-billion-euro ($24.7 billion) budget deficit in the first half of 2009, compared with a 7-billion-euro surplus ($10 billion) last year.”
“Ultimately Germany needs demand from its key trading partners–the United States and the rest of western Europe–to pick up. If not, all the government spending will mean its budget deficit will continue growing.”
“The German economy is still on a drip, getting infusions from policymakers. Some doubts remain whether the economy can stand on its own feet.”
