Obama: More European than the Euros and Maybe Even Brad Miller...

polifrog



First Germany turns their backs on Obama, now the Brits do as well.

Obama wedded to an ideology contined his Keynesian push,

Obama urged the world's leading economies Friday to avoid scaling back government spending too quickly or risk derailing the global recovery.

...

The warning - a clear shot at European governments reining in budget deficits - comes after months of worry about the health of the eurozone, fuelled by huge public debts in Greece and Spain.

Angela Merkel's wisely ignored Obama.

Referring to the G20 summit in Canada next weekend, Merkel said in a videotaped message that "we are going to discuss when to quit the phase of short-term measures and go on to lasting budget consolidation."

Such a move was "urgently necessary, in the view of the Europeans and particularly of Germany," she said.

Now the Brits have ignored Obama,

Mr. Osborne's budget is the latest to depart from the short-lived Keynesian consensus that government can spend its way back to prosperity.

...

George Osborne presented the U.K. government's emergency budget yesterday, with spending cuts and consumption-tax hikes intended to shrink public borrowing to 1.1% of GDP by 2016, down from 10.1% of GDP this year. Nearly 80% of that retrenchment comes as spending cuts rather than tax increases. The Chancellor of the Exchequer's cuts are, on balance, good news for the British economy.

It would be refreshing if we in the US could follow suit and ignore Obama, but Polifrog would settle for a bout of fiscal common sense to roll across American governance.

Keynesian economics theory, crack for government spenders like Brad Miller (NC-13).



out