Jim DeMint: How the U.S. Can Help Europe: Just Say No

Wall Street Journal ^ | 12/09/2011 | Jim DeMint

[SeekAndFind]

If the United States wants to help Europe find a way out of its current debt crisis, we must be a strong, world economic leader, not merely the lender of last resort.

American taxpayers sent $40 billion to Greece last year, through the International Monetary Fund, to stave off an economic collapse. But the bailout did not prevent Greece's day of fiscal reckoning. It only delayed it. Austerity measures are still needed throughout Europe's socialized economy and the debt contagion has not been stopped. Financial chaos has spread from Greece to Ireland, Portugal, Italy and Spain, and it now threatens the very future of the 17-member euro zone.

Undeterred, President Obama last month told the press after breaking from a closed-door meeting with European leaders, "the United States stands ready to do our part to help them resolve this issue." He would do better to focus his attention stateside. The most dangerous threat to the U.S. economy is not across the pond. It's in the swampland of Washington, D.C.

The very problems that have roiled Europe's economy are coming to a slow boil in the U.S. Just as European leaders must limit deficit spending, reform unfunded entitlement programs, and resolve the underlying systemic problems in their financial systems, so must the politicians in Washington. Yet the Obama administration is burning taxpayers at each end of the dollar by bailing out failed socialist policies abroad and, at the same time, forcing them into place here at home.

Although every country's finances are unique, the U.S. is unquestionably in the danger zone.

Greece's economy reached its tipping point and was bailed out when government debt topped 137% of its gross domestic product. Despite all the measures that have been taken to aid it, Greece's debt-to-GDP-ratio is even higher now, at 160%.

[Cringing Negativism Network]

By example?

Just a thought.

[Prokopton]

This man should be president.

[SeekAndFind]

RE: By example?

Just a thought.

______________________

It won’t happen before 2013 that’s for sure. And we’re not even sure what happens in 2013.

[Thermalseeker]

More likely to be forced by the result of inaction, rather than the result of actions taken by Congress. Color me cynical, but I really don’t see either side going to any great strides to do anything to keep us out of the abyss. I see signs that they’re planning for massive civil unrest. Scary stuff.

[onedoug]

Well, he just voted to drop sodomy and bestiality from all US criminal codes, so he passed that test for President.

[PGalt]

UNaccountable bureaucrats (socialists) propping up socialists. DEFUND socialist collectives, foreign and domestic.

live free republic

[OldCorps]

This man should be president.

DeMint and Grassley are about the only two repubs worth anything.

I read today that Orin Hatch voted for cloture and against all other republican senators, thus going ahead to put another another commie socialist on the dc circuit.

We need to get rid of the RINOs. Hatch, McCain, Collins, Pansey Graham, Snow, Lugar (can't believe he's still alive), and Murkowski the corrupt.

[Lurker]

Senator DeMint Congress controls the purse strings. Simply attach an Amendment to every bill that crosses your desk codifying your fine words into Law.

Then publicly dare Obama to veto it.

[whitedog57]

From Zero Hedge,

DeMint is right! Look at the charts. There is NO WAY to bailout Europe. This is just another bank bailout.

http://confoundedinterest.wordpress.com/2011/12/09/europe-moves-ahead-with-fiscal-union-uk-declines-europe-buys-more-time-with-bailout-and-vague-promises-of-budget-cuts/

[rabscuttle385]

ping!

[Democrat_media]

Who thinks what is happening to Europe won't happen to the U.S? The U.S. has more debt and is borrowing it mainly from China.

20 years ago 99% of China's people were in the stone age.

Now China is lending us trillions.

That's because China ripped the U.S. off and destroyed all our factories and called that “free trade”.

We have to bring back manufacturing jobs to the U.S.. and that means blocking almost all imports from China and other countries.

99% of freepers are for keeping out illegals from other countries but it's ok with them that other countries send their products into the U.S. that take our jobs, factories and technology.

Close the border to illegals and to the products that illegals make in their countries and send over here.

[upchuck]

Wish Jim would declare.

Jim DeMint Ping!

Want on or off this ping list? Just FReepmail me.

Follow Sen. DeMint on Twitter.

[jakerobins]

AMEN! I think if Sen. DeMint was in the race the other canidates would be fighting over who would be his VP...because not many could hold a candle to THE MAN!

[Euroconservative]

“Austerity measures are still needed throughout Europe’s socialized economy and the debt contagion has not been stopped”

Oh please, they should stop lecturing us!! USA and UK are runing 10% budget deficits. The US budget deficit in one year is worth 50% of total german public debt. Even a struggling country like Italy is on its way to balance the budget in 2012 or 2013.

The crucial difference is the role of central banks. The ECB is not a lender of last resort for governments. While the Fed, BoE and BoJ own a significant percentage of the public debt.

[OrangeHoof]

Any chance we could start a “Draft DeMint” movement?

I sick of Newt, Mitt and the other gasbags we have running now.

[ding_dong_daddy_from_dumas]

If this is what President Obama meant when he said the "United States stands ready to do our part," it's time for him to part ways from his European friends seeking the same kind of assistance that has been provided to Greece.

It's not just "his European friends." If the state of California defaults, its leaders will say, how can you bail out Europe and not bail us out?

When Bush started selling the TARP, some of us predicted that a long line of "needy" entities with their hands held out would form as a result. It was not that hard to foresee.

[Sun]

DeMint is correct! How can we afford to help other countries, borrow from Red China?

[Darth Reardon]

The U.S. has more debt and is borrowing it mainly from China.

Okay. Might want to get your facts straight before launching into an economically illiterate "protectionist" tirade.

[Democrat_media]

you get your facts straight. The following quote is from the link below:

“As of May 2011 the largest single holder of U.S. government debt was China”

http://en.wikipedia.org/wiki/United_States_public_debt

I guess you are for illegals invading the U.S. too huh? Why is it ok to stop illegals but not ok to stop their products which are destroying America?

99% of China's people were in the stone age 20 years ago. Now they are lending the U.S. trillions. This is because they make most of our products. Our politicians sold out to China and are traitors.

Close the border to illegals and to foreign products that illegals build in their country at 1/20th the wage which no U.S. company can compete with.