Pot-meet-Kettle. You know solving the European debt crisis is hopeless when the current President of the United States Barack Obama, who has spent $4 trillion just in the past three years, ballooning the U.S. debt to over $15 trillion, making him the most spendy president in the history of our country, is lecturing the European Union about how to solve...their debt crisis.
President Barack Obama will press European Union officials on Monday to reach a definitive solution to their sovereign debt crisis which is emerging as a major 2012 U.S. election worry.
As Germany and France scramble to tighten budget controls across the euro zone, European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso will face tough questions from Obama at the White House on how much longer the crisis might go on.
But of course:
No breakthroughs are expected from the meeting, which will not include the European heads of state who need to make crucial decisions about the future of the 17-nation currency union.
So what is the point of the meeting if nothing is expected to get done? Apparently the purpose is for a bunch of overspending politicians to sit around contemplating how they got into a debt crisis (looking in the mirror my help), despite their overspending causing the debt crisis in the first place. Unfortunately, Obama won't tell Europeans what they need to hear, "High taxes obviously aren't working to slow down your debt crisis. Socialism clearly isn't working because you've run out of other people's money. It's time for the EU to move away from big government welfare states and into a lower tax, free market system." Instead, Obama has followed Europe's lead on economic policy and has failed miserably.
Some people say, "When Europe sneezes, the U.S. gets the flu." I say, "When Europe decides to act irresponsibly by jumping off a cliff while under the influence, the U.S. gets the medical bill."