U.S. increasingly alone in belief in stimulus spending preferable to deficit reduction 

With the G-20 summit coming up, it looks like the U.S. is going to be just about the only country advocate for stimulus spending rather than deficit reduction:

“In the run-up to the summit, a clear plurality of G-20 countries has come up on the side of fiscal consolidation and not stimulus spending,” said Dan Price, a senior partner at Sidley Austin and former President George W. Bush’s “sherpa” for G-20 summits.

Japan has also introduced a strategy to reduce its budget deficit, while Canadian Prime Minister Stephen Harper, who is hosting the summit in Toronto, has challenged G-20 members to cut their deficits in half.

Of course, with midterms ahead Democrats have some nakedly political motives for not turning off the money spigot.

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