World leaders Sunday made a pledge to slash budget deficits in half in three years. Canadian Prime Minister Stephen Harper, host of the summit said "it is imperative that we get our fiscal house in order." Harper's proposal that he sent to leaders was in contrast to Obama's letter which stated that in the 1930's the government reduced spending too soon and prolonged the Great Depression. The President has not done his homework. It is pretty much the observation of historians that the spending lengthened the Depression rather than shortening it. Obama must have been clearly disappointed nor did he probably get the message, as he is even now working on more stimulus packages and many Democrats insist that we have not spent enough. Here we see clearly the fundamental difference between progressivism and conservatism. But the Canadians and the Europeans are getting the message, and Greece is the one who clearly showed them the way. If you keep going this way, this is what you get. A complete collapse of your government, because these principles do not work. Greece was an overwhelmingly factor in G-20 agreement to support the deficit cutting moves.
Britain is going to an emergency budget, [something we need to do] raising some taxes but cutting spending levels not seen since WWII. It was clear that Europeans leaders would side with Harper's views. Even though Obama met with Great Britain's minister David Cameron he is not listening to him either. Cameron said "Those countries that have big deficit problems like ours have to take action in order to keep that level of confidence in the economy which is absolutely vital to growth." He joked that he could not pay for the helicopter ride that Mr. Obama had given him Sunday to go from the isolated site of the Group of 8 talks to the G-20 summit. I am concerned that Obama's spending is becoming a joke amongst world leaders. Will he ever see the need to QUIT SPENDING.
Chancellor Angela Merkel made it clear that Germany, fourth largest economy in the world, would not be pressed into continuing large fiscal spending. Germany will cut spending 107 Billion over the next four years. Oh, how I wish that were the headlines in the Chicago Tribune.
Here tells the real story, one of Obama's pals George Soros, to say the least a leading leftists, If the Germans don't change their policy, their exit from the currency union would be helpful for the rest of Europe. "Soro's said" Right now the Germans are dragging their neighbors into deflation, which threatens a long phase of stagnation, and that leads to Nationalism, social unrest and xenophobia. Democracy could be at risk." This is the wrong thinking of the progressive intellect. And the kind of people Obama listens to. You do not spend more money to reduce deficit!!
The Chancellor of Germany has reached the right conclusion, if Germany cuts it's budget deficit
"then the citizen is more willing to spend money. A core conservative principle. Cut taxes, cut budgets=more money in our pockets to spend.
Sen. Mitch McConnell said " the two things that are growing fastest in the Democrat economy are the size of the federal government and the crushing burden of the national debt." He's right and it is coming down and literally crushing our economy. Marna
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