‘The President Of The World’ is beginning to lose favor with the European Union over the Porkulus Bill, also called the $787 B Stimulus Bill.
The president of the European Union Wednesday lambasted President Obama’s costly economic recovery program as “the way to hell.”
Czech Prime Minister Mirek Topolánek, whose country holds the rotating EU presidency, criticized the $787 billion U.S. stimulus program in unusually sharp comments that highlighted a continuing divide between Europe and the U.S. on crisis-fighting steps. Topolánek said the U.S. was repeating mistakes it made during the Great Depression when it ramped up government spending, and said Washington’s errors would boomerang on Europe.
Who knows socialism better than the EU?
European leaders have resisted U.S. calls for more government pump-priming, fearing the effects of swollen budget deficits. The IMF says the collective stimulus measures being enacted by G20 nations “fall well short of the 2% of GDP recommended by the Fund, especially in 2010.”