"It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong." Richard P. Feynman

Saturday, May 19, 2012

Five Trillion Dollar debt and Obama is giving financial advice to Europe??

The most profligate money wasting president ever  is telling Europe to keep spending and put it on the credit card as he has done. Obama is advising Europe to forget about austerity and raise their debt level after he has destroyed the US economy and saddled generations of  Americans with a huge debt. Obama has upped the national debt more in 3 years then the much-maligned George Bush managed in 8 years. Putting it in perspective , Obama has borrowed 5 billion dollars each day of his Presidency and anyone who takes his financial advice would have rocks in the head. You have to feel sorry for Angela Merkel who is one of the few adults at the G8 conference being sandwiched between Hollande and Obama.
Chart - Deficit 2012
Barack Obama greets  Francois Hollande
How about a couple of  verses of the Internationale?
US President Barack Obama has thrown his weight behind French calls for more pro-growth policies in Europe, as G8 leaders huddle at Camp David for a summit darkened by Greece's possible eurozone exit.
Mr Obama set the stage for a fractious meeting of world leaders by forging an alliance with new French President Francois Hollande over the need to jolt Europe back to growth.
Fearing Europe's economic crisis is poised to worsen - with dangerous repercussions for the US economy and perhaps Mr Obama's chances of re-election - Mr Obama weighed in, risking the ire of German Chancellor Angela Merkel, who has championed an austerity-first approach.

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