Obama In Wonderland: Obama Pens Letter to G20 Nations to Increase Government Spending, Then Says He’s Serious About Reducing Deficit
Welcome to Obama in Wonderland …
President Barack Hussein Obama was on record that he wanted the G20 nations to increase government spending in order to grow the world economy. The European leaders led by Merkel had other ideas. Thank you Barack Obama, you just made the US irrelevant on the world state thanks to your socialist progressive agenda.
But European leaders, led largely by German Chancellor Angela Merkel, have pushed back on increased spending as deficits rage out of control.
Those European leaders appeared to win out over the weekend at the G-20 summit in Toronto as the world’s leaders agreed to cut deficits in half by 2013.
The G20 nations, namely European socialist countries, SAID NO!
Today’s G-20 meeting has been advertised as a showdown between the U.S. and Europe over more spending “stimulus,” and so it is. But the larger story is the end of the neo-Keynesian economic moment, and perhaps the start of a healthier policy turn.
For going on three years, the developed world’s economic policy has been dominated by the revival of the old idea that vast amounts of public spending could prevent deflation, cure a recession, and ignite a new era of government-led prosperity. It hasn’t turned out that way.
So after Obama and his economic policies were rebuked, Obama then sayshe is serious about reducing deficits. Please. This from the President that has done nothing but put the US into record deficits and tripled them in his first term in office. Now he is promising to cut the deficit in half by 2013. This from the man who promised how many jobs would be created, Obamacare would lower health care costs and reduce the deficit and a $787 billion stimulus package would keep unemployment under 8%.
I believe Obama’s nose actually grew when he said that he would cut deficits in half by 2013. Thankfully, Obama will not be around in 2013, God willing.