There is no question that Obama was impressed with European progressive socialism. The worst thing, he still is impressed.
Greece will surely default on their debts. France has been downgraded by S&P. Germany, the country that was supposed to save Greece is seeing their economy falter. Spain went broke building windmills.
Like families and business that go broke, it’s just spending more than you take in, simple as that.
We have to give Obama credit he has accomplished that in just three short years. Our debt is now equal to our revenue. The entire GDP of the country. The $15.23 trillion we now owe to creditors, including IOU’s to government retirement promises is equal to all the goods and services the US economy produces in one year.
Europe is finding what happens when you teeter on the brink of financial ruin. You get unruly protests in the streets(occupy Wall Street), if you try to balance the budget you get voted out of office, unions control everything, and you most productive talent leaves to find work in other countries where work exists. That’s what Obama aspires to have us become. The man does seem to have blind spots when it comes to ideology, doesn’t he?
Here’s where he has now put us. Only Greece, Iceland, Ireland, Italy, Japan, and Portugal have debts larger than their economies. We’re only counting countries with advanced economies. Ours was advanced once, before Obama got his hands on it.
Is this what you want for your kids and grand kids?
