Merkel Rejects Obama: "We Need Growth That Doesn't Rely on Debt But Is Based on Real Grounds"
Posted by Jim Hoft on Friday, June 25, 2010, 12:09 PM
German Chancellor Angela Merkel rejected Barack Obama’s request today after arriving in Toronto for the G20 meetings. Merkel told reporters that, “We need growth that doesn’t rely on debt.” This was in response to Barack Obama who sent a letter to G20 leaders last week urging them to continue to run massive budget deficits in order to “keep economic growth strong.”
GDP growth was revised downward today.
Canada’s Prime minister Stephen Harper (L) welcomes German Chancellor Angela Merkel (R) at the G8 summit in Hunstville, Ontario today. (AFP)
The AFP reported:
“We need growth that doesn’t rely on debt but is based on real grounds,” Merkel insisted here Friday.
“The world needs a new architecture for the financial markets and me and the EU will advertise for that very intensively,” she added.
More… Via Instapundit:
TELEGRAPH: Barack Obama is refusing to listen to reason on economic policy. “As it happens, the public debt trajectory is rather worse in the US than it is in Europe, yet Obama has adopted an overtly ’spend until we are broke’ approach in a calculated bid for growth and votes.”
It looks like the rest of the world is not buying into Obama’s Keynesian disaster plan. It could be a long weekend for the president.
More… Admiral Mike Mullen, chair of the Joint Chiefs, agrees with Merkel- “Adm. Mike Mullen also renewed his warning that the nation’s debt is the biggest threat to U.S. national security.”
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Published May 24, 2012 at 8:46 pm - 89 Comments
Chippy commented:
She sounds like a Tea Party member. Barry and the media will probably mock and make fun of her.
Andreas K. commented:
She’s full of crap.
“We need growth that doesn’t rely on debt.”
Yeah, when is Germany going to follow that idea?
Germany’s budget 2010 is 320 billion Euros.
80 billion of those are new, additional debt. 150 billion go straight into Germany’s out of control welfare state. Almost 50% of the German budget go into the welfare state. 2001 it was about a third.
Germany’s unofficial national debt is 6.2 trillion Euros. Officially (after doctoring it heavily) it’s “only” 1.7 trillion Euros.
Stop selling Merkel as some great opponent of Obama’s madness. In Germany she and her government are just as bad as Obama, if not worse.
Merkel is all words, but she’s a complete and utter moron as chancellor of Germany. Her party made a massive shift to the left wing.
Forget her.
Paul_______ commented:
They are bailing out Greece. Europe is nothing but Socialist.
Dave-O commented:
When the going gets tough, the tough go . . . . golfing!! Time for Barry to hit the links to empty, er . . . clear. . . his mind!
USMC Thomas commented:
World leaders are realizing community organizer SOBama has zero business or economic acumen.
Simon commented:
OT, but has anyone seen Rahm lately? I mean, alive?
alanstorm commented:
“Barack Obama is refusing to listen to reason on economic policy.”
That sentence could be made more accurate by dropping the last three words.
jd commented:
the admiral is incorrect.
obama is the single biggest threat to u.s. national security
Joanne commented:
They aren’t accepting Obama’s economic policy, because it is stupid and has no economic sense. The fact that this idiot can actually get up and push his crap almost makes me feel embarrassed for him – NOT!
The direct line to Gateway Pundit at First Things is still coming up as being reported to be unsafe and won’t allow me to go that route.
iconoclast commented:
Interesting assessment. If we accept your (reasonable and factual) assertion that the welfare state socialism in Germany is also out of control, how to interpret her public refusal to go any farther into debt? Other than to think that Obama is more of a Greek politician than a German one?
A frightening thought.
Don Rodrigo commented:
Even after qualifying as per Andrea K’s comments, the fact the Eurocrats are expressing a desire for more fiscal soundness than we are shows that we’ve gone to Hell economically.
Andreas K. commented:
Iconoclast, Merkel is also one of the politicians behind the EU bailing out Greece. So my tax money is pumped into Greece thanks to her. Little Austria is pumping in more than 2 billion Euros. Those are more than 26 billion Schillings (our old currency.) That used to be ~30% of our budget deficit about 20 years ago (I remember that number because I was in school back then, heard it on the radio and was like “wow, 60 billion Schillings, that’s a LOT of money!!) The deficit of our budget today is around 60 billion Euros. So within 20 years Austria has increased its deficit ten times.
Why?
Spending like crazy.
The EU is opening a can of worms with the bailout. Greece went under. Italy is close to that point. So is Portugal, Spain, Ireland. The UK is in bad shape, thanks to Labour. Germany is bankrupt. Austria, well, we’re still off better than most, but our national debt is about to reach 75% of our GDP.
It’s like that all across the EU.
Then add the stillbirth called Euro.
It’s going to blow, big time.
There’s another interesting detail about Germany. In the past 40 years, Germany managed to even out the budget once. Just once income and expenses of the German state were even. In the other 39 years the expenses were always higher than the income.
They’ve been racking up debt for 39 years and there is no end in sight.
Instead of leading by example, Merkel and her goons gave themselves a pay raise earlier this year. But they want to control the banks and be in charge over how much managers make. They all howl at the “capitalism is evil!” tree.
How to interpret her statement?
She’s a politician. She lies when she opens her mouth.
Her party is called CDU/CSU. Christian Democratic Union/Christian Social Union. They used to be “center”, but in the recent years, under Merkel, that party has shifted so far to the left wing, it’s not even remotely funny. They have betrayed their base. They’re actively catering to mohammedans and continue the multiculturalist nonsense in Germany.
Under Merkel Germany has also DOUBLED the payment to the EU. For no apparent reason. If my memory serves me right Germany used to pay ~13 billion Euros to the EU. Now they pay 26 billion Euros in 2010. Money that Germany does not have.
The problem is, there is no alternative in Germany. The FDP is just as dumb and the left wing… well, they’re left wing. Forget them.
I would agree that Obama is a Greek politician. And then people like Merkel will bail him out, and create more debt for their own country.
Merkel is a classic “do as I say, not do as I do” politician. Her popularity in Germany is going down. People call her “the pants suit.”
Andreas K. commented:
Let me just make this clear.
Merkel lectures Obama that spending too much is bad, yet her government is spending like crazy in Germany.
The woman is a hypocrite.
Bill H commented:
Sounds like Barry is going to miss this weekends awesome WH Party and hangover golfing.
Not to worry, I’m sure he will get back in the “swing” of things next weekend.
Nathan R. Jessup commented:
Look who else rejected Obama (this video is 13 seconds of perfection):
http://the-raw-deal.com/?p=3360
NRJ
wow commented:
Nathan R. JessupNo Gravatar
June 25th, 2010 | 2:34 pm | #17
OMG… come on Dems and O worshipers. I want to hear how the countries of the world love us now and it was all about Bush …..
Kemo Sabe commented:
Maybe Barry will call for a boycott of Germany and then sue them.
Chris Vehr commented:
The difference?
Merkel is trying to save her country. Obama is either purposely or is “stupidly” trying to destroy his.
xqqme commented:
There is frustration among other G20 members, particularly Germany, about mixed signals from the US, and an American consumer culture that seems unable to grasp a world after debt – other than one in which there is even more debt . The Merkel Government in particular is leaking that, while they have received forthright criticism in private from US officials such as Tim Geithner, these contrast with more emollient statements made in public. This confirms the Slog information of some weeks back of Obama’s irate phone calls to EU members – and also again makes one anxious about the man’s fiscal compass: his first messages were ‘get your deficits down’, but now it’s ‘get your consoomers spending’. OK Barack, we’ll do both then.
posted at site…
Kemo Sabe commented:
Chris # 20
I’ll go with…….Purposely
And I’ll add that he’s purposely trying to collapse the entire world’s economies. That’s why he is encouraging these nations to keep up the spending. Hell, little timothy geithner was is Japan a couple of weeks ago telling them to spend more.
They are going to capitalize on the chaos they create.
A little factoid:
Did you know barry’s mother worked for timothy geithner’s father doing something called micro financing? Basically loaning money to people who could never pay it back, kind of like what fannie/freddie does but on a smaller scale.
Money Where Her Mouth Is commented:
All of you going on and on about Germany’s spending are right… and late.
Merkel announced several weeks back her intent on taking Germany off the spending binge.
She finally sees that “fueling” the economy is unsustainable, and she’s right. Obama should take notes.
Ann commented:
Twitter won’t take a link either. Google is shutting you down. Wow.
Ken commented:
Slap his ass momma. It’s time the rest of the world started saying just what an idiot we have for president.
THEY MISS G.W. Bush NOW, WHY DON’T WE?
Because of the state run media.
Time to boycot the advertisers on the state run media and see who really has purchase power.
Let’s face it, the first ones to lose their employment were the idiots that backed obama and guess what, the last ones to get hired will be the same idiots.
Aussie commented:
I would challenge that what Oboomboom has been doing is what Keynes recommended. The massive spending spree has nothing at all to do with what Keynes had suggested.
I am not promoting Keynesian theory because it was disproved when the world went into stagflation back in the 1970s, but what I am saying is that Keynes, if he was alive today would not agree with the spending binges…he would have looked at the situation and made other recommendations.
Germany is now heading in the right direction. The U.K is following… as for who was responsible for agreeing to give the money to bail out Germany, I would suggest looking first at Belgium, and then Germany.
Char commented:
Wow. Germany finally recognizes an antichrist when he comes along?
Rat des Champs commented:
uh, Andreas is right, Merkel is jerkel !
billy sol commented:
kudos to merkel! it appears that the majority of the G-20 Bloc gave our disaster-in-chief a lesson in ecomonics! that’s great! this guy doesn’t have the money smarts to make change for a quarter!!