Over the weekend, socialist French President Nicolas Sarkozy lost to mega-socialist Francois Hollande. Hollande vowed to increase taxes on the "rich" by 75 percent, lower the retirement age and increase government spending, putting France on a direct path towards Greece which means bailouts on the backs of American taxpayers.
The election results leave in question what happens now to the eurozone and its debt crisis. France is a key player in plans to navigate it. And Greece is a recipient of bailout by the European Central Bank that requires the government to slash spending.
The European Union is America's largest trading partner. The U.S. economy has suffered in the slow down in European markets, and further economic problems in the eurozone could mean less trade with the United States.
Not to mention, the U.S. doesn't have a man in the White House willing to stand up to Europe and just say no.
|Katie Pavlich is the News Editor at Townhall.com. Follow her on Twitter @katiepavlich. She is also the author of Fast and Furious: Barack Obama's Bloodiest Scandal and the Shameless Cover-Up.
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Author Photo credit: Jensen Sutta Photography
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