Posted on 11/12/2010 4:32:29 PM PST by Hojczyk
Has there ever been a major economic summit where a U.S. President and his Treasury Secretary were as thoroughly rebuffed as they were at this week's G-20 meeting in Seoul? We can't think of one. President Obama failed to achieve any of his main goals while getting pounded by other world leaders for failing U.S. policies and lagging growth.
The root of this embarrassment is political and intellectual: Rather than leading the world from a position of strength, Mr. Obama and Treasury Secretary Timothy Geithner came to Seoul blaming the rest of the world for U.S. economic weakness. America's problem, in their view, is the export and exchange rate policies of the Germans, Chinese or Brazilians. And the U.S. solution is to have the Fed print enough money to devalue the dollar so America can grow by stealing demand from the rest of the world.
President Barack Obama walks off the stage with Secretary of Treasury Timonthy Geithner But why should anyone heed this U.S. refrain? The Germans are growing rapidly after having rejected Mr. Geithner's advice in 2009 to join the U.S. stimulus spending blowout. China is also growing smartly having rejected counsel from three U.S. Administrations to abandon its currency discipline. The U.K. and even France are pursuing more fiscal restraint. Only the Obama Administration is determined to keep both the fiscal and monetary spigots wide open, while blaming everyone else for the poor domestic results.
(Excerpt) Read more at online.wsj.com ...
Bears repeating! You can bet there would be resignation.
Well that pretty much sums it up now doesn't it? He needs to stay home and take care of getting business and industry going right here in the USA...... My gosh, try and find a candy cane that doesn't say made in China! Who wants food from factories that have no regulations or sanitary conditions? Not me...no thanks.
....”this time the stakes are much higher. He’s alienated the leaders of the world to such a degree that no one will bargain with us. His incompetence is unprecedented.”....
This is more than concerning to most, I don’t know if his own party will continue to support him much longer. Perhaps they’ll keep him on but somehow keep his power limited...but if they do that then who will be in control behind the scenes? What a mess our country is in!
I negotiate as part of my work and you are exactly right, he is clueless.
Extortionists and thugs don’t negotiate. They intimidate, threaten and use other methods to get the desired results.
Please review this graph and tell me why we are talking about Republican spending.
Spending is out of control now. However, as shown the the graph you referenced, spending was also out of control while President Bush and the Republicans ran the nation.
President Bush took us from a budget surplus to huge deficits that nearly double our nation debt during his term.
I hope you do not consider a return to that kind of spending is "good enough".
This just proves that God’s Word is true. It says you shall reap what you sow, and judge not lest ye be judged. Its all coming home to zero. Everything he blamed on Bush, has come home to him 7 fold.
Couldn’t happen to a nicer guy/sarc
God, this man-boy
is an embarrassment to our country.
The problem is that I do not believe that Obama is in over his head. I believe that he knows exactly what he is doing, that he is purposely trying to turn world sentiment against the US and crash the dollar, to force a one world currency on the US.
Obama knows that he is not going to be able to convince US voters to go for the one world government and currency, so he’s going to get the rest of the world to force us there. It’s Agenda 21.
I do not.
However, I count on lefties to knee jerk - “””so did Bush””” ad nauseum. Looking at the graph, Bush spent at 67 MPH and before the mortgage meltdown the spending was slowing. Obama is spending at 137 MPH.
We need to cut spending, not be satisfied with increasing spending less.
There was a time when Conservatives favored a Balanced Budget, not one that was 67 MPH.
Fifty and slowing is fine by me. I was at several tea parties, were you? I helped elect a big-time budget cutter as governor. Were you focusing on taking our country back, or sitting and complaining about Bush.
Continually focusing on Bush is mental onanism.
Fifty and slowing is fine by me. I was at several tea parties, were you? I helped elect a big-time budget cutter as governor. Were you focusing on taking our country back, or sitting and complaining about Bush.
Continually focusing on Bush is mental onanism.
Bump!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.