This weekend's G8 Summit and this week's NATO meeting could generate changes in worldwide fiscal policy.

Currently, the U.S. and Germany find themselves on opposite sides of the fiscal divide. President Obama supports measures designed to stimulate economic growth, while German Chancellor Angela Merkel champions austerity.

The G8's course of action could determine the future of the European Union and echo on the Presidential campaign trail.

Republican Strategist Jack Burkman and Democratic Strategist Richard Fowler discussed that and other issues on Capital Insider.