SICK MAN OF EUROPE

Despite Bush's tax cuts and the billions being poured into Iraq the United States budget deficit for 2005 – not including any spending on Katrina and Rita – is forecast as 2.9% of GDP. Europe's biggest economy has problems of its own:

The experts predict Germany's deficit to reach 3.9 percent this year, and it is estimated at 3.2 percent in 2010.

The main factor behind the gloomy picture is the country's sluggish economic growth, although it may be improved as a result of the Agenda 2010 economic reforms initiated by the previous red-green government.

What the hell is the German government spending its money on?