Americans can't buy the world's prosperity: Obama

AFP on Yahoo ^ | 6/27/10 | AFP

[NormsRevenge]

TORONTO (AFP) – Debt-ridden Americans can no longer "borrow and buy" the world's way toward prosperity, US President Barack Obama has said, warning new drivers of growth were needed to fuel global recovery.

"After years of taking on too much debt, Americans cannot -- and will not -- borrow and buy the world's way to lasting prosperity," Obama said at the end of G20 talks focused on ending the lingering effects of the economic crisis.

Instead the globe should look to consumers elsewhere to pick up the slack, Obama said as he tried to mark the end of an era that saw the American consumer bankroll global growth, and become debt-laden in the process.

"No nation should assume its path to prosperity is paved with exports to America. Indeed, I've made it clear that the United States will compete aggressively for the jobs and industries and markets of the future," he said.

Obama has vowed to double US exports in five years.

He won some backing from his G20 partners, who on Sunday endorsed "efforts to rebalance global demand to help ensure global growth continues on a sustainable path."

As part of the effort to remake the global recovery Obama insisted that countries must not have any "undue advantage," urging China to allow its currency to strengthen.

[SirJohnBarleycorn]

He has no understanding of economics.

His head is filled with marxist sound-bites that he uses as a substitute for thought.

He couldn’t begin to explain the historic foundations of America’s prosperity or the causes of our present decline.

[EBH]

Can’t.

We don’t have the workers for it.

those we do have are union...

plus you’d have to get the environmental regs. rolled back...

Really kinda sucks to be US...don’t it.

[NormsRevenge]

He is such a ‘poser’ and communicator too.. lolol

[Cringing Negativism Network]

So how about you just go over in the corner and quit then.

http://www.youtube.com/watch?v=RR1fDL7x1Sg

[VRWC For Truth]

Is the clown prepared to roll back taxes, excessive regulation, and gov’t health care so business can be come more profitable.? We have nothing to export anyway except gov’t union workers, illegal immigrants, and lawyers. What a lunatic.

[Cringing Negativism Network]

Look.

Is American’s conservative base so naively vested in the disaster mis-named “free trade” than we’ve become unable to actually root for OUR SIDE?

http://www.youtube.com/watch?v=RR1fDL7x1Sg

[cripplecreek]

I can explain how we got into our current situation with two quotes from history.

'What prudent merchant will hazard his fortunes in any new branch of commerce when he knows not that his plans may be rendered unlawful before they can be executed?'

James Madison.

‘You Americans are so gullible. No, you won’t accept communism outright, but we’ll keep feeding you small doses of socialism until you’ll finally wake up and find you already have communism. We won’t have to fight you. We’ll so weaken your economy until you’ll fall like overripe fruit into our hands.’

Nikita Kruschev

[jveritas]

They are laughing at this clown behind his back due to diplomatic courtesy. Soon they will be laughing at his face. How cannot they laugh at a person who says exactly the opposite of what he doing. The liar socialist clown talks about fiscal responsibility and then goes on to spend more of our money than all the other Presidents in history combined.

[Cringing Negativism Network]

Kruschev is dead.

[al_c]

Lead by example, 0bama!

[umgud]

I've made it clear that the United States will compete aggressively for the jobs and industries and markets of the future,"

WTF? Why then are you killing our private sector?

[tflabo]

How is Bam expecting to ‘double exports’ when he and his Dem leeches keep heaping new taxes on businesses. If these cretins called Dems pass a VAT tax or a ‘Crap and Tirade’ Bill no way will exports go up but way down!

[mountn man]

Just LMAO as I heard that phrase in my head in Obama’s voice complete with inflections.

You should be able to hear him in your head, hes had more radio and tv time than the last 4 republican presidents combined. I gone through 3 remotes in the last 2 years trying to avoid him on tv as much as possible.

[snowrip]

More tough talk from the biggest crybaby bitch on the planet.

STFU.

[cricket]

'Sounds good' Barack. . .means nothing, given your spending habits. No doubt, got some 'head nods/bobs'. . .but I doubt; much else.

No one, just 'hanging' on this man's empty words - like they used to.

That is, save the MSM; who STILL carry his water despite a whimper or whine, now and then. They are like abused children; they will never give up trying to please Obama - to all our detriment.

[Cringing Negativism Network]

How about our side stops actively trying to offshore American jobs by supporting outsourcing, first things first.

Then, we can lecture Obama on jobs.

As things stand, we’re sort of in a very large glass house...

IMHO.

[cripplecreek]

So is Madison but they are a great indicator of where we were as opposed to where we are.

Madison understood the failure of over regulation and Kruschev understood its success if used for his means.

[tflabo]

"After years of taking on too much debt, Americans cannot -- and will not -- borrow and buy the world's way to lasting prosperity," Obama said

However the Federal Govt. is exempt, right Bam?

[Cringing Negativism Network]

You’re over-complicating things.

Here’s a far more relevant quote:

“Buy American”

[rovenstinez]

Did someone say that Barak Obama was once a manager at the Dairy Queen¿ He seems to have gotten some ON THE JOB training to make that statement.