June 22, 2010

German Advice Obama Should Take

As we know, it’s always been important to socialists like the ramrods of today’s Democrats for the United States to be as much like Europe as possible. In our current president’s case, he probably preens in front of a mirror with a gilt European frame. GOd knows, he’s always trying to emulate Europe.

That, of course, is what gives hope (yeah, HOPE, for a CHANGE) that he will heed the words of those Germans who are advising him to knock off the deficit spending “stimulus” approach to the bad economy.

The congressional battle over adding more government stimulus spending versus deficit reduction spilled overseas Monday as the German government publicly rebuked the Obama administration over its red ink and said countries now must focus on controlling debt.

It’s the same sort of pushback President Obama has been getting from critics at home as he calls for a second round of stimulus spending, which he argues is needed to spur private job creation at a time when unemployment hovers near 10 percent nationwide.
But he’s increasingly being opposed by Republicans and some Democrats at home, and German officials’ comments signal a looming fight over deficits as the world’s leaders gather in Toronto next week for a summit of the leaders of the world’s biggest economies, with the Group of Eight summit of industrial powers kicking off Friday in Canada.

A larger gathering of the world’s 20 leading economies, known as the Group of 20, follows immediately afterward.

“It’s urgently necessary for monetary stability that public budgets return to balance,” German Economy Minister Rainer Bruederle said at a press conference Monday, according to Bloomberg News. “This is something we should also tell our American friends.”

Read the rest.

That Obama’s a real leader of the Free World, isn’t he?

Yeah, leading the free world into massive debt.

by @ 11:51 am. Filed under The Economy
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3 Responses to “German Advice Obama Should Take”

  1. Thibojeaux Says:

    Nah, he won’t take their advice.

    The man’s like a gold digger with a wallet full of credit cards where the taxpayer’s money is concerned. Our kids, our grandkids and their grandkids will still be paying off this guy’s debts, + the vig.

  2. Simeon Says:

    The president and Congress are spending the money toward a goal of getting people working and our economy back on its feet.

    Once that happens, there will be enough taxes collected to start paying down the national debt.

    Have you neocons got any better ideas?

  3. Chuck Says:

    Thibojeaux,

    Obama is a real spending machine, going even beyond the “progressive” concept that all problems can be solved by throwing enough money at them.

    He’s like an automaton, unless someone hits his “off” switch, he’ll keep on spending money even when there’s none left to spend.

    Simeon

    …a goal of getting people working and our economy back on its feet.

    LOL! You mean this goal? :-)

    http://www.brillig.com/debt_clock/