European Economic Woes

By Douglas V. Gibbs

As the American Stock Market drops below 10,000 (a mark that Democrats danced around the golden statue of Obama when the Stock Market crept above it) the financial markets in Europe are beginning to face serious economic difficulties. Some economists are even speculating that the reason for the American Stock Market's dropping numbers are because of Europe's troubles. Though Europe's woes may be a part of the American economic sluggishness, Obama's move against private banks with a 10% penalty fine, and the ever-mounting deficit numbers the Obama administration seems to be producing, also play a big part in the economic crisis that may be on the brink of a major crash, and hyper-inflation here in the states.

What is most interesting about Europe's troubles, however, is the fact that Obama has continually proclaimed their system as being the model we should be chasing. He has touted how health care legislation that increases government involvement in the industry will bring down the deficit, as will Cap and Trade. The European countries have had single payer health care in place for quite a long time. If such a system reduces deficits, then why is Europe in trouble, and why is the cause of their troubles being pinned on their soaring deficit spending? Could it be that contrary to Obama's claims, health care legislation, and other socialist policies, are not deficit neutral?

Greece, Portugal, and Spain lead the pack in the deficit troubles in Europe that are being blamed. The European Union is crumbling, and it is a direct result of their little journey into Socialism. They are in a financial hole because of their universal health care programs, and big government policies. Such high deficit spending is unsustainable, and Europe is our example of such.

Yet, Obama and the leftist idiots don't get the message. As Europe wallows in its troubles, and begins to realize that moving away from socialism might be their only salvation, Obama and the Congressional Democrats continue to drive up U.S. debt, and impose socialist programs on the American People that will increase our debt further, and result in increased taxes, and more government control over the lives of the citizens while destroying our entire .

The Democrats constantly use Europe as an example of where we should be. Now, as Europe's system fails, perhaps they should take a look at Europe to see how their progressive policies have been a disaster, and is sending Europe into an economic tailspin.

-- Political Pistachio Conservative News and Commentary

Investors Fear Europe’s Woes May Extend Global Slump - New York Times