Stop Apologizing, Obama

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


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.