{"id":5466,"date":"2010-05-27T11:23:12","date_gmt":"2010-05-27T15:23:12","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=5466"},"modified":"2010-05-27T11:25:01","modified_gmt":"2010-05-27T15:25:01","slug":"obama-to-europe-borrow-and-spend-even-more","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/5466\/obama-to-europe-borrow-and-spend-even-more\/","title":{"rendered":"Obama to Europe:  Borrow and Spend Even More"},"content":{"rendered":"<p>One of the pillars of Barack Obama&#8217;s 2008 campaign was that America had become too didactic toward the rest of the world, particularly toward the more anti-American elements of Europe.\u00a0 A kinder, gentler Obama would be the ointment to soothe all international discord, they promised.<\/p>\n<p>But the Obama Administration has proven even more didactic than the Bush Administration.\u00a0 The primary difference is that Obama bows to antagonists like Russia and the Palestinians, while disrespecting friends like Israel.<\/p>\n<p>Now, Obama is even reneging on his &#8220;reset&#8221; stance toward Europe and self-righteously instructing them on how to pilot their economies.\u00a0 Consider this opening paragraph from today&#8217;s <em>Wall Street Journal<\/em> <a href=\"http:\/\/online.wsj.com\/article\/SB20001424052748704717004575268284276354448.html#mod=todays_us_front_section\" target=\"_blank\">front-page article<\/a> entitled &#8220;U.S. Chides Europe&#8217;s Crisis Response:&#8221;<\/p>\n<blockquote><p>U.S. Treasury Secretary Timothy Geithner landed in Europe and reasserted a traditional American role of dispenser of financial advice to the world, telling European governments to get their fiscal houses in order.&#8221;<\/p><\/blockquote>\n<p>That&#8217;s pretty amusing stuff from an administration that <a href=\"http:\/\/blog.heritage.org\/2009\/03\/24\/bush-deficit-vs-obama-deficit-in-pictures\/\" target=\"_blank\">quadrupled America&#8217;s deficit<\/a> in its very first year.\u00a0 What&#8217;s worse, his administration is insisting on more of the very policies that caused Europe&#8217;s economic and budgetary maladies.\u00a0 Greece&#8217;s welfare spending required a <a href=\"http:\/\/cfif.org\/v\/freedom_line_blog\/5204\/fannie-freddie-greece-still-not-noticing-the-parallels\/\" target=\"_blank\">$1 trillion bailout<\/a>, and Portugal, Spain and England may not be far behind. Despite this self-evident reality, the Obama Administration instructs them to pursue more of the same.\u00a0 According to the report, Geithner admonished European leaders &#8220;to keep pumping stimulus into their economies.&#8221;<\/p>\n<p>This prompts the question of whether there exists <em>any<\/em> remaining tether whatsoever between the Obama Administration and reality.\u00a0 The euro has plummeted following Greece&#8217;s bailout, and even the American Dow Jones Industrial Average <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052748704717004575268011155724240.html#mod=todays_us_money_and_investing\" target=\"_blank\">fell below 10,000<\/a> yesterday on fears that the contagion will spread.<\/p>\n<p>A word of advice to Europe:\u00a0 reconsider your love affair with Obama before he steers you toward even greater catastrophe.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the pillars of Barack Obama&#8217;s 2008 campaign was that America had become too didactic toward the rest of the world, particularly toward the more anti-American elements of Europe.\u00a0 A kinder, gentler Obama would be the ointment to soothe all international discord, they promised. But the Obama Administration has proven even more didactic than [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1132,59,590,24,61,179],"class_list":["post-5466","post","type-post","status-publish","format-standard","hentry","category-posts","tag-bailout","tag-deficit","tag-europe","tag-obama","tag-spending","tag-stimulus"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/5466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=5466"}],"version-history":[{"count":2,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/5466\/revisions"}],"predecessor-version":[{"id":5470,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/5466\/revisions\/5470"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=5466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=5466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=5466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}