Learning from their past leftist socialist ways, the European Union's elections should be a lesson to the United States, and in particular, our President, Barack Obama. Results of the votes tallied from last weekend's election showed widespread disavowal of statism in Europe, while at the same time Barack Obama is hellbent on quadrupling down on his losing bet of mountainous deficit spending.
Even Russian Prime Minister Vladamir Putin has said the US should take a lesson from the pages of Russian history and not exercise “excessive intervention in economic activity and blind faith in the state’s omnipotence”.
“In the 20th century, the Soviet Union made the state’s role absolute,” Putin said during a speech at the opening ceremony of the World Economic Forum in Davos, Switzerland. “In the long run, this made the Soviet economy totally uncompetitive. This lesson cost us dearly. I am sure nobody wants to see it repeated.”
The Chinese, owners of 25% of our nation's debt, are even skittish about the debt load we're carrying. If they stop buying our debt, we're in for high long-term interest rates which will increase mortgage rates, which will hurt an already depressed housing market.
Unemployment just skyrocketed to a quarter of a century high at 9.4%, even though earlier this year the White House projected that it would top out at only 8% with their imbecilic "stimulus" plan. Well, we've been stimulated out of over two million jobs thus far this year including 345,000 in May alone, with the idiotic spending scheme, so by the administration's own measuring tape, it hasn't measured up.
One day after the right turn by the EU, the White House announced plans to accelerate the printing presses, claiming it will create or "save" up to 600,000 jobs. Keep in mind there is no such statistic as "jobs saved," or any way to measure such a statistic, so any number the administration or anyone else attaches to "jobs saved" makes one question what other falsehoods they've got up their economic sleeves.
The rest of the world seemingly is learning from the mistakes of their big government ways while this president seems determined to repeat the same mistakes that were attempted during the 1930's unsuccessfully in the United States:
We have tried spending money. We are spending more than we have ever spent before and it does not work ... After eight years of this Administration we have just as much unemployment as when we started ... And an enormous debt to boot!
Treasury Secretary under FDR, after 2 terms of FDR's "New Deal".
No country in the history of the world has borrowed and spent their way out of a problem that was caused by excessive spending and debt. The American people, as quantified by the savings rate, are finally starting to tighten their belts. Barack Obama should be doing the same thing with the federal purse strings, not taking out a subprime mortgage on the next generation's future.
Barack Obama needs to listen to, and I can't believe I'm writing this, Putin, the EU, and FDR's own Treasury Secretary. His folly has been tried before. It's not new, and it's not change. It's ludicrous.
WHILE THE REST OF THE WORLD GOES RIGHT, OBAMA TURNS HARD LEFT
Posts
0 PLEASE LEAVE COMMENTS HERE:
Post a Comment
Thank you for your comments. I appreciate your input!