What The G-20 Said, And What They Meant

Here’s what the G-20 honchos said last week, along with a translations of what really meant. For instance,

WHAT THEY SAID: “We are undertaking an unprecedented and concerted fiscal expansion, which will save or create millions of jobs which would otherwise have been destroyed, and that will, by the end of next year, amount to $5 trillion, raise output by 4 percent and accelerate the transition to a green economy.”

WHAT THEY MEANT: The words in the communique were strong but in reality the major countries did not pledge any additional efforts on government spending or tax cuts to boost their own economies.

Somehow doesn’t have quite the same ring, does it? [AP] (Photo: mugley)