Thursday, May 13, 2010
Obama's bailout fever extends across the pond
Just 10 days after the attempted car-bombing of Times Square which failed only because of the bomber's astonishing incompetence, President Obama announced that he was slashing security funding for New York City. That's weird enough seeing that NYC is 75% of the terrorists' targets but receives only about 10% of the anti-terrorism funding but then, he announced that we would be contributing $56billion of taxpayer money to Greece.
Greece is a bellwether for all of Europe and their nanny-State style of governance. They should be allowed to fail, even if it means dragging Spain, Portugal, and maybe Italy down with them. The rest of the European Union will surely learn a lesson from Greece's collapse. Besides, Greece only makes up about 2% of the European economy and a fraction of 1% of the world's economy. The world can certainly do without Greece's economy while they straighten themselves out.
Obama abandoning NYC in favor of bailing out Greece demonstrates a terrifying loyalty to "the world" over his sworn loyalty to the US. Moreover, does he not see that our debt/GDP ratio is approaching the same dangerous level that is causing the Greek collapse? The terrible thing is, I don't think he cares. He intends to establish a European-style, socialist, welfare state in the US come hell or high water and nothing is going to get in his way.