Brits Blast President Downgrade For Lecturing Europe on Debt
Posted by Jim Hoft on Thursday, September 29, 2011, 5:32 AM
After tripling the US deficit in a year, increasing the federal budget by a trillion dollars in a little over 3 years, adding $4 trillion to the national debt in two-and-a-half years and overseeing the first downgrade of the American economy in a century, our failed president felt he was just the man to lecture Europe on fiscal responsibility this week.
They didn’t take it so well.
Nile Gardiner at The Telegraph says it best:
As Ambrose Evans-Pritchard reported, Germany’s finance minister Wolfang Schauble has launched a stinging rebuke to the Obama administration after Washington pushed for the European Union to boost its EFSF bail out fund. After Obama declared that the European financial crisis is “scaring the world”, Schauble shot back at the US president by warning: “It’s always much easier to give advice to others than to decide for yourself. I am well prepared to give advice to the US government.” He also made it clear what he thought of the idea of increasing the 440 billion euro lending limit, a position supported by US Treasury Chief Tim Geithner:
I don’t understand how anyone in the European Commission can have such a stupid idea. The result would be to endanger the AAA sovereign debt ratings of other member states. It makes no sense.
It is rather ironic that Barack Obama, who has probably done more damage to the American economy that any president in modern US history, is now lecturing European leaders on their financial problems as well. The Obama administration’s track record of out-of-control government spending and borrowing, a $1.3 trillion budget deficit (the largest since World War Two), combined with mammoth bailouts, has been nothing short of disastrous. 14 million Americans are out of work, the housing market is in a state of collapse, and job growth is practically non-existent outside of the Washington Beltway. And the advice his flailing government is now giving across the Atlantic will inevitably prolong the huge economic turmoil in Europe, rather than help bring it to an end.
The administration’s entire approach to the European Union is fundamentally flawed, and is based on the underlying premise that the EU needs more integration, not less, with a greater pooling of national sovereignty.
Hat Tip Gini
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Published May 22, 2012 at 5:04 am - 25 Comments
jorgen commented:
Nile Gardiner’s articles are always a good read!
Gary Gross commented:
I wrote here that Germany essentially told this administration that they don’t have any credibility when it comes to handling debt & fiscal management. They’re right.
#1AMERICAN commented:
president POS what a guy…..
Nana commented:
Now that is the truth …
Got Billy Ayers on Speed Dial commented:
I guess Obama has personified the true meaning of “ugly American”. Of course, Sarah Palin was first out of the gate on this:
“On Monday, during a fundraiser in California, President Obama declared that Europe’s debt problems and their inability to solve them was “scaring the world.” He went on to explain that Europeans “have not fully healed from the crisis back in 2007 and never fully dealt with the challenges that their banking system faced” and that “they’re trying to take responsible actions, but those actions haven’t been quite as quick as they need to be.”
This of course is coming from a President who has done nothing to deal with our own country’s enormous debt crisis and who is in fact eager to incur even more debt with another useless stimulus bill (now called a “jobs bill” though the last stimulus failed to produce the jobs it promised, which is perhaps why Harry Reid doesn’t seem too eager to bring this new bill to a vote despite the President’s demands to “pass this bill”). Yes, Europe has serious debt problems, but for President Obama to be lecturing our allies about not being “quite as quick” in dealing with a debt crisis is downright hypocritical.
When his all-too-common finger-pointing is directed at Republicans, President Obama’s search for a scapegoat is swallowed as merely the typical Beltway politics of our permanent political class. But pointing fingers at our allies when they are working to get their own financial house in order is counterproductive and can have a serious negative affect on our ability to lead the free world….” (more)
Now He’s Blaming Europe
by Sarah Palin on Wednesday, September 28, 2011 at 5:31pm
http://www.facebook.com/note.php?note_id=10150312322078435
RedBeard commented:
I liked it better in the past, when Europeans hated us because we were the great superpower and they were jealous. Being laughed at by the Europeans isn’t nearly as much fun.
Thanks, Barry, you barely-sentient piece of human debris.
Liz commented:
The emperor is buck, freakin’ naked.
Fuquay Steve commented:
Welcome to our world.
katablog.com commented:
We knew President Pull-Ups didn’t have experience but we’ve never accused him of not having audacious gall.
kansas commented:
Barack Obama looks ridiculous as he___________________.
Fill in the blank.
patman commented:
I find all of this humorous. Europe showed up en masse for this tool and his teleprompter. And now they call him stupid.
At least they’re finally calling him out…
MountainHome commented:
It only gets worse with Obama and his corrupt government. I am sure he concurs with canceling elections for 2 years as NC’s government proposes. Notice how Democrats want to change the rules when they are losing as they did with the Mass. senator’s race a few years ago?
Larkin commented:
I would say that Europe bears no little responsibility for the fact that we even HAVE a barack obama in the White House.
vityas commented:
Europe LOVED him. They wanted him. They got him.
Now, just like always, they’re ungrateful for all the American public does for them.
Cowboy Bush is starting to look good, huh?
Granny commented:
OFFTOPIC – Let me just say here Jim that I HATE the new home page where everything but the top story is “older entries” and they display one story at a time, with a click required for each and every one of them AND another click to display the story with the comments.
May I remind you: If it ain’t broke, don’t fix it. Too much fixing Jim – WAY too much fixing!
CT commented:
Yes but how do really feel about Obamanomics Nile?
Bravo!
CT commented:
I second Granny’s opinion on the new website page layout Jim. I thought you were recovering from being hacked or something.
Goatweed commented:
What was the president’s major at Columbia?
Valerie commented:
BO was simply giving Europe the advice his administration has followed. It’s nice to see that responsible world leaders have the same evaluation of his policies as we do. China has indicated the same impression of him, as well.
The next question is, what do we do about it? The Ayn Rand novel “Atlas Shrugged” has described the actions of this administration in terms that are far too close for comfort. The book also prescribed a cure. Although this is a novel, it contains a popularized explanation of what works. It describes what worked to reverse the depression of 1920.
If we want to revive our economy, we need to allow our economic engine the resources it needs to operate. Our economic pump is cavitating, because our money is being diverted from swift-moving private resources to stagnant government pools. Worse, those pools are being treated as slush funds for the politically connected.
Although a lot of people see Russia in this example, I see Mexico, a country that runs on bribes for the benefit of politically-connected families. I don’t think Mexico is a good economic example for us.
Valerie commented:
PS. I’m not sure Mexico is all that fond of us at the moment, especially since we have been arming their drug gangs, who then kill Mexicans. People have been known to take offense at that kind of behavior.
Gini commented:
#18 September 29, 2011 at 9:26 am
Goatweed commented:
What was the president’s major at Columbia?
I strongly suspect that BHO was at School of General Studies of Columbia University not Columbia College as it appears that no one remembers him. I also suspect he was affirmative action student. But did he come in as foreign student – that is the larger question no one knows the answer to.
Frank_H commented:
The main stream media thought Obama was brilliant because he could read words off a teleprompter. His speeches had soaring rhetoric but no basis in reality. He had no relevant experience to guide is judgement. He would have never been elected, save for the financial crises
He is not a smart man. That truth is now painfully obvious.
Dave J commented:
Team 44′s solution to this crisis will be to send more $ to Europe….specifically to the journalists…and media outlets so that get inline with the narrative. At least Mr. Gardiner is seeing directly through the socialist hypocrisy. Hear, hear my limey brother!!
Airon Later commented:
Oh yeah, a wingnut who writes for one of the biggest tabloid pieces of fish & chip wrap sure is a reliable source. It’s way too easy to pic apart your collective lack of reasoning.
RedGrandma commented:
My sister-in-law, a Swiss immigrant and staunch conservative Republican, tells me that all of her relatives back in Switzerland, France and Italy just love, love love BO. She has to confine her political talk to just one sane nephew who shares her conservative beliefs. I will be interested to hear what they think of him now that he is dissing and lecturing them on their economy. Unlike the kool-aid drinkers here who refuse to accept the destruction that is happening before their eyes, I would think the Europeans would rise in loyal solidarity against such arrogant verbal abuse of their own leaders and countries.
And I agree with #15 Granny and #17 CT — this new home page that presents only one story at a time is a loser.
jainphx commented:
I’m so bored with this POS that it brings tears of frustration to my eyes. Everything has been said about him, what more is there. He’s intentionally bringing the country to it’s economic knees, and anything to accomplish this, to him, is fair game. I spit in his general direction.
CV1 commented:
Typical academic. All talk and no real experience.
tommy mc donnell commented:
maybe they are not enacting fiscial policies that will bring them to complete financial ruin quick enough to suit him.
big L commented:
Hey Germany, what about the BIG speech in Germany in ’08. Thanks for the steamroller. We re-built your country.REmember that?
lizzy84 commented:
@jainphx/#26
It’s good to read that someone else is as fed up with this clown as I am…..good LORD.
He’s beyond SICKENING!
PS. Ditto…#25 #17 #15 on new format.
FurryGuy commented:
Barry and his Merry Band of Marxists emulate the worst of European Socialist policies, and when the Euros try to pull back from the brink Barry lectures them.
Hubris awaiting a mighty downfall in 2012.
redriverstuff commented:
Love ya Jim, but the new layout is not doing it for me either. Thought it was a glitch. I know it probably helps drive page views but it’s clunky and inconvenient. On a related point, how about a mobile enabled site instead?
Larkin commented:
Not liking this new, “improved” Gateway format.
This blog is always my first stop in the morning and last at night. That could change.
Valerie commented:
No, Valerie, the government does not exist for the purpose of creating jobs for anybody. It does have purposes that give off relatively few jobs as side effects, but always as the cost of a certain amount of drag on our real job creator, private enterprise. Right now, or government is sucking up resources that could be more efficiently used to create jobs, and funneling them to friends-of-democrats. This is going to make a few well-connected families very wealthy, at the expense of our middle-to-lower class.
Obama’s redistributive policies are taking money from the middle-and-lower classes, and giving it to friends and friends of family in blue states, mostly white, and already well-off, who couldn’t make it in a legitimate marketplace.
I actually agree with Maxine Waters on this one!
http://www.breitbart.tv/valerie-jarrett-point-of-government-is-to-give-people-livelihood-so-they-can-provide-for-their-families/
Valerie commented:
Guys, I am getting the format where all the news stories are scrollable on the same page. If I once click on comments, and want to get back to the other format, I have to click the “go back” arrow in my browser (Safari) or the GatewayPundit button on my bookmark bar.
I’d like to see a small chart with links to the day’s stories at the top, or side.
mcc commented:
Like children, BO and his fellow fools across the pond have been irresponsible. We have to fight the insanity. But this is a far greater threat – one we really can’t afford to let them be foolish about:
http://www.americanthinker.com/2011/09/hezballah_cells_active_worldwide_including_in_us.html
mcc commented:
re #36 –
They have successfully placed many cells in Europe and, through ties with the Hugo Chávez government in Venezuela, have placed hundreds of Quds Force members along with Hezb’allah terrorists in front companies in Venezuela. Iran has set up an explosives lab in Venezuela for its cells with the knowledge of the Chávez government. In return, the Iranian regime has given hundreds of millions of dollars to Chávez.
These cells, through collaboration with drug cartels, have infiltrated Latin America and have even set up shop in Mexico, from where, in a coordinated effort, they are infiltrating the United States.
lizzy84 commented:
Ditto. #36 and #37.
Count me in among those who find this horrifying.
Can you really think of any criminal organization that’s better poised to expand its enterprise into the US with its escalating ties to Hezbollah/radical jihadists and their tactics of violence/mutilations/intimidation in tow than the Latino narco cartels? Escalating indicators of their presence is being felt across communities in the SW Border States where narcogangs can ply their wares and grow their operations and early indicators point to the fact that they are quickly spreading to other States as well. There is simply NO WAY our Country can survive if we continue to elect politicians who as leaders bury their heads in the sand on the national security threat these narco gangs pose to citizens, our cities and our Republic and that will not lead on the issues of illegal immigration and border security.
Tom63010 commented:
The audacity of a dope!
Bis Miller commented:
Sane people know that the Teabaggers were responsible for the U.S. credit rating downgrade, not the President.
All the Teabaggers have done since taking over the House of Reps is make things worse. They haven’t done anything to create jobs; they’re focused on making the rich richer at the expense of the poor.
WillofLa commented:
Of course we all know that Europes problems began when the European Union was formed. It was formed due to all the failiing economies of the European nations thought that they would be better off if they all got together and put their monies together and then gave out an equal amount from those countries that were doing better, i.e. England, Germany, to those that weren’t doing so well, i.e. France, Greese. But what was the European Union that from it’s very name spells Socialism. And since most of these failing countries were run by either a Socialist or Communist government, like, no wonder their economies were failing, they turned right around and became one giant Socialist society.
After all these years they have realized that Socialism doesn’t work…..again…. and now there is talk about disolving the “Union” and go back to some sort of independent countries again. Part of that is because the people of the countries who were doing okay when the Union came together and said those people have now got to give the Union all their money so it can be “redistributed” out to those who don’t have any money. And we see again what happens when Socialism is the controlling governing body that decides who gets your money. It fails to meet the needs of all the people….again. Also, those countries can’t protect themselves from the Muslim invasion and terror threats because redistribution never has enough money to fund military, just like the Socialist here in America want to cut 50% of the military budget if the Star Chamber can’t agree on how much the cuts are supposed to be by December, the Super Committee of the twelve Congressmen are supposed to be trying to come up with.
Obama is just another Socialist/Marxist and the European’s have been trying to tell that nut that Socialism doesn’t work, and that he is wiping out America’s economy using Socialist methods supposedly to create jobs, business opportunities, and finance and banking supports. All that is failing because under Socialist methods none of that ever works because it never recognizes that it’s the private sector that generates wealth, not the government or the European Union Socialist/Communist control over individuals who are supposed to be “free” to create the wealth the government is saying they can. The government is picking who wins and who loses, instead of actually freeing the people. This what the citizen’s in the countries who want to be free of the European Union want for their country, not what Obama is doing here.
WillofLa commented:
Bottom line, people don’t want to starve and go back to the Fudel system where people are working for a few super wealthy for what little sustinance they could get out of the land owner. Humans have learned that it is freedom that produces prosperity for everyone, not enslavement for security both economic and personal. Ben Franklin said that if you give up your freedom for security, you will have neither. And that applies here. European’s remember some, enough of their past history to know that they don’t want to go back to surfdom, and get false security in return. When the government promises health, wealth, food, and shelter, you’ll get none of that if all that is supposed to be provided by redistribution of wealth, yeah, the wealth you once had for yourself. When the government takes that from you because you gave them the opportunity to take it from you because you didn’t fight to keep it for yourself.
Liberals always try to make people feel guilty for what they have, even right down to having air conditioning in your home and at your place of work. Do you know where that came from? About American’s having air conditioning in their homes is a afront to those people who are to poor to even have a fan, or the electricity to run it? It comes from a speech given at the Rio Climate Conference a few years ago by Maurice Strong (look him up because he is the worlds most dangerous man you need to know about), and in that speech he was talking about American’s using up power and energy that has a finite amount in the world, to run their air conditioning in their homes and places of work. He believes that is wrong, that we shouldn’t have that privilege because it harms the planet to take energy for such luxuries that most people in the undeveloped countries don’t have the ability to have.
So, what, we shouldn’t have something that is provide to us to make ourselves comfortable, that we pay for, just because some poor African doesn’t even have lights in their hut? That’s what these people in the European Union are believeing in that here they are trying to save their country from failing and American’s are using up the limited energy the planet has just so they can stay cool or warm whenever they want? This is where Obama gets his idea that we should be punished for having air conditioning in our homes whether we pay for it or not. But that’s just it, Obama is going to take away the very thing that gives us the ability to have air conditioning and that is our jobs. Without them we are lowered to being just as uncomfortable as those in foreign countries who have never had air conditioning. Like that?
Then if you don’t like that, then we need to get rid of Obama and get somebody in there who doesn’t think we should feel guilty about having cool air in the Summer, and warm air in the Winter. We deserve it, don’t we?
Musty Wet Pelts commented:
mmmmmmm mmmmmmmm mmmmmmmm
StrangernFiction commented:
Like children, BO and his fellow fools across the pond have been irresponsible.
Not irresponsible, FUNDAMENTAL TRANSFORMATION (ie intentional destruction). What part of Barry is a Marxist do you people not understand! Sheeeesh.