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.














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Liberal basher of NY 6:58PM April 09, 2009
Don Kimble of PA 3:53PM April 09, 2009
Gary of OH 11:42PM April 07, 2009