It was bad enough when France’s President Sarkozy lectured Barack Obama on how to conduct a strong foreign policy. Then, it was: the Obama administration–weaker than the French! Now, it is: the Obama administration–more profligate than the Europeans! Germany’s Angela Merkel rejects Obama’s call for more government debt, world-wide:
German Chancellor Angela Merkel said on Saturday spending cutbacks are needed following the spate of throwing money at the global economic crisis, in a direct counter to US President Barack 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.
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, fueled by huge public debts in Greece and Spain.
Germany, Europe’s biggest economy, is working on a multibillion-euro package of spending cuts designed to bolster government finances and recoup market confidence.
It’s bad enough that Obama wants to destroy our children’s futures, now he’s trying to bankrupt Europe, too. Honestly, I never thought I would be this embarrassed by an American President.