You Know You're in Trouble When ...
... the head of the European Union says you're acting too socialist.
Finally, a European leader who makes sense.
BRUSSELS (AP) -- The head of the European Union slammed President Barack Obama's plan to spend nearly $2 trillion to push the U.S. economy out of recession as "the road to hell" that EU governments must avoid.
The blunt comments by Czech Prime Minister Mirek Topolanek to the European Parliament on Wednesday highlighted simmering European differences with Washington ahead of a key summit next week on fixing the world economy.
It was the strongest pushback yet from a European leader as the 27-nation bloc bristles from U.S. criticism that it is not spending enough to stimulate demand.
Shocked by the outburst, other European politicians went into damage control mode, with some reproaching the Czech leader for his language and others reaffirming their good diplomatic ties with the United States. The leaders of EU's major nations -- France, Britain and Germany, among others -- largely ignored Topolanek and his remarks.
Topolanek is correct. It is the road to hell. The reason the leaders of other EU nations are ignoring him is because they, too, have accepted the socialist model and don't want to look like hypocrites. A nation like the Czech Republic, anxious to emulate the old U.S. model of free markets and free people after decades of suffering under Soviet domination, doesn't understand what could be sexy with growing government by spending trillions of dollars that have to be printed.
There are other European nations that are quietly warning that America is on the wrong path, but their motives are not the same. A free, vibrant United States is the economic engine that pulls the rest of the world along. Without it, the entire world will be thrown into depression. It's a lot easier to dabble with socialism as long as you have a big capitalist friend who will buy your stuff and lend you assistance from time to time. It's not so much fun when you don't have a rich friend anymore.
1 Comments:
The Czech PM's comments were right. Under Obama America's spending is uncontrolled. Growing deficits like this is madness. It would wreck the EU to do this. Actually most European countries have enough trouble with their own deficits to support their own welfare socieities. If Europe went on the printed money spending spree that the US is on then Europe would really be in trouble.
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