Loudounlady’s Blog

March 25, 2009

EU President Criticizes Obama

Filed under: Barack Obama — loudounlady @ 3:11 pm

Current European Union President, Czech Prime Minister Mirek Topolank, is been more than critical of President Obama’s stimulus package, saying it will undermine the stability of the global market.  And honestly, I believe he is right.  Why does the administration believe we can spend our way out of a deficit? 

To encourage bank lending, which is at the core of this problem, the government is planning on buying up “toxic” assets, or in other words, giving these companies a “get out of jail free card.”

Whatever happened to Adam Smith and the invisible hand ideology?

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