Germans used to love Barack Obama while he was running for president of the United States. They thought that he would deliver "change" and make the world a better place.
But now that Obama is in the office, German comentators are questioning many of his policies.
Gabor Steingart writes in German Spiegel that, even though "the occupant of the White House may have changed recently, the amount of ill-advised ideology coming from Washington has remained constant. Obama's list of economic errors is long -- and continues to grow."
Steingart notes that George Bush was "nothing if not zealous in his worldwide campaign against terror, transgressing human rights and breaking international law along the way. Now, Obama is displaying the same zeal in his own war against the financial crisis -- and his weapon of choice is the money-printing machine."
Steingart singles out Larry Summers, Obama's senior economic advisor, and blames him for ill-advising the US president.
According to Steingart, Summers thinks that the current financial crisis was caused by "too much confidence, too much credit and too many debts." At the same time, he thinks that the crisis can be resolved by "more confidence, more credit and more debt."
The problem is, says Steingart, that "Barack Obama follows him like a dog does its master."
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Comments: 5
Obama knows exactly what he is doing and its what he is told to do but not by Summers its by the corporate government that rules America.
Its a shame that after finally getting rid of the GOP we put another GOP clone in their place.
President Obama cannot perform miracles. I am trusting him for now.
The end of the recession? Financial gurus predict one to six years!
That's a joke its going to be longer than the last depression because they have only helped make it worse.
Germany's committment to balancing its budget is commendable. I also agree with their stand to better regulate financial markets. However Obama faces a totally different political reality that his German counterpart -- unlike he is saddled with two wars and a branch of government that is unaccustomed to intervening in the private sector.
Obama is nothing but a Bush clone and has signed onto the same treachery and insurrection.