Posted on 05/20/2012 9:22:07 AM PDT by mojito
CAMP DAVID, Md. — Leaders of the world’s wealthiest nations opened the door Saturday to more government spending in Europe as way to revive the continent’s struggling economy, shifting away from the idea that the surest way to recovery was through strict fiscal austerity.
Meeting at the Group of Eight summit at Camp David, President Obama and his fellow leaders said they were committed foremost to creating jobs and growth, a shift, at least in emphasis, from previous gatherings dominated by German efforts to reduce high government debt through drastic fiscal reform.
In a joint statement, the leaders of eight of world’s richest countries said they would promote investment in education and infrastructure, as they also sought to rein in government debt. Obama, who has pushed for additional fiscal stimulus in the United States, said the new agreement affirmed the course his administration pursued during the financial recession at home. He said the move toward economic stimulus bolstered Europe’s chances of surviving the crisis.
“The direction the debate has taken recently should give us confidence that Europe has taken significant steps to manage the crisis,” Obama said in a brief statement to reporters outside his wooden cabin nestled in the leafy presidential retreat in the Catoctin Mountains. “There is now an emerging consensus that more must be done to promote growth and job creation right now in the context these fiscal and structural reforms.”
(Excerpt) Read more at washingtonpost.com ...
Given the definition of insanity, these worlds leaders are certifiable.
More spending.
Good. Grief.
.
Obama wants to prop up the Euro until AFTER he has his second term.
It didn’t work in the past as always but when the economy recovers as it will always do, they will claim its because of the stimulus spending.
The stage is set for the new world order to make it’s presence from stage left.
LOL...spend more money and get in more debt in order to reduce debt...
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Obama administration officials were careful to emphasize that the other leaders did not gang up on Merkel during two days of meetings at Camp David. Obama, aides said, made sure to spend time informally with each leader, strolling with Merkel along paths and sitting with her on the porch outside the Laurel Lodge.
Translated from the Eurocrap....."we are going to throw more money at the teachers unions and at the infrastructure unions so they don't occupy our city squares, smash store windows and picket our homes....and so they can return lots of laundered money to our campaign funds at election time."
Leni
How sweet. The WH is working overtime to show the cuddly, caring side of Barry.
There is no need for industry, manufacturing, services.
Jus’sit at home (safe) and have gummit to print mo’money and give it to people not to work (equallllllyy).
/s
The list, Ping
Let me know if you would like to be on or off the ping list
But Obama will have more leverage after the election. (Like he's going to give BP a refund?) Yeh...right...
One thing we can be sure of. The Germans are too smart not to destroy their currency , and with it their country. They’ve “been there, done that” before. So even if it looks like they’re suddenly printing and spending zillions of moola, it will be USA loans, probably through the IMF borrowing from the Fed. That makes the ultimate currency the USDollar that gets printed and debauched. Count on it.
As all of the other nations spend it’ll make the republicans look bad for cutting. Boner folds.
But, I thought we had already invested a bunch of money in infrastructure.
Pedal to the metal! Full speed ahead, brakes disabled, off the cliff into the abyss!
WHEEEEE!!!!
How many of my tax dollars will be wasted today?
Good grief....Only idiot socialists would say the answer is more spending. Bye Bye Europe!
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