Europeans up in arms over U.S spending habits

As we enter the eve of the G-20 meeting, the couple of months of Obama's presidency have raised the anxiety levels in parts of Europe. There is talk among many Europeans country leaders that President Obamas policies on his record spending could weaken the economy of all countries in the long run. With Czech Prime Minister Mirek Topolanek, who holds the rotating EU Presidency, described U.S. fiscal spending as a "road to hell." Chancellor Angela Merkel has expressed skepticism about using heavy borrowing to solve a global crisis she has no intention of injecting more money. Even Jean-Claude Juncker of France said "Recent U.S. calls on Europe for an additional budgetary effort do not suit us.'' , and Chinese Premier Wen Jiabao said he is "a little bit worried" about his country's big investment in U.S. debt.

From a Interview with the Financial Times newspaper
German Chancellor Angela Merkel said ‘we cannot borrow forever’ throwing too much money into reviving global economic growth would make the recovery unsustainable, She added: “We must look at the causes of this crisis. It happened because we were living beyond our means ... governments encouraged risk-taking in order to boost growth. “We were spending too much to create growth that was not sustainable. It isn’t just that the banks took over too many risks. Governments allowed them to do so by neglecting to set the necessary [financial market] rules.

I for one never thought in my lifetime I would ever hear the amount of complaining by Socialist Europeans about the way the United States is going about spending there way out of a crisis. The calls from all countries to President Obama to halt the spending are going on deaf ears; President Obama is determined to listen only to the extreme left wing of his party regarding the restructuring of the United States giving the government control over private institutions within this administration. But President Obama who stated his administration would listen to the cries of American people doesn't seem to care about what others think unless you are on board with the way the administration wants to spend our tax dollars.