Stop Apologizing, Obama

Hey, it's not all America's fault.

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Does the president know a) that leverage at European banks was far higher than at American banks, b) that Europe also had a property bubble, c) that Europe has terrible long-run financial problems related to its demographics, 4) that Europe has been able to build a massive (though now unsustainable) welfare state, in part, because it skimped on defense spending thanks to the American defense umbrella. I think these things are worth pointing out.