World Leaders Tell U.S. Stop Spending Money You Don’t Have
Posted in Barack Obama, Tim Geithner on March 14th, 2009 by John H – Be the first to commentDespite U.S. Treasury Secretary “Turbo Tax” Geithner imploring other countries at the G-20 Summit to spend more, the world’s leading economists’ response was resoundingly clear, “are you f-ing crazy?”
Many of the European governments feel they have spent more than enough of their taxpayer’s money and call for better regulation, not spending. Surprisingly, many economists at the G-20 Summit endorsed clearing up the bad assets weighing down the banking industry and recapitalizing the banks is the prudent way out of this recession. Not surprisingly, a policy Obama blamed George W. Bush’s for pursuing. Can’t blame Obama of taking credit for a good idea at least.
Frankly, you know its really bad when China is lecturing the U.S. on how to be better capitalists.