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Obama Pledges US Help ($) For Greek Crisis

From an approving Reuters:

Obama presses Europe, pledges help for Greek crisis

By Jeff Mason And Steve Holland Tue Jun 7, 2011

WASHINGTON (Reuters) – President Barack Obama on Tuesday urged European countries and bondholders to prevent a "disastrous" default by Greece and pledged U.S. support to help tackle the country’s debt crisis.

Assuming that "the country" here is Greece – how blinking wonderful.

Obama, whose political prospects have suffered from persistently high unemployment and ballooning U.S. debt, has pinpointed the euro zone crisis as one foreign "headwind" hitting the U.S. economy.

Isn’t it terrible how Mr. Obama’s "political prospects" are suffering because of high unemployment and debt? He has the worst luck. (It must be that ‘luck of the Irish’ thing.)

After a meeting with German Chancellor Angela Merkel, he stressed the importance of German "leadership" on the issue — a hint that he expects Berlin to help — while expressing sympathy for the political difficulties European Union countries face in helping a struggling member state.

"I’m confident that Germany’s leadership, along with other key actors in Europe, will help us arrive at a path for Greece to return to growth, for this debt to become more manageable," Obama said.

Mr. Obama is great at telling people how to lead. It’s the community agitator in him.

"But it’s going to require some patience and some time. And we have pledged to cooperate fully in working through these issues, both on a bilateral basis but also through international and financial institutions like the IMF."

Meaning, Mr. Obama is going to make the US taxpayers borrow more money from China and the Middle East so that he can give it to Greece. .

A proposal for a second Greek bailout package worth 80 billion (117 billion dollars) to 100 billion (146 billion dollars) euros over three years was taking shape, euro zone sources said

With U.S. unemployment at 9.1 percent, Obama has blamed outside forces for impeding the economy, including high fuel prices, the earthquake in Japan and the euro zone crisis

And of course George Bush. In fact, Mr. Obama has blamed everyone else but himself and the Democrats who have controlled the federal purse strings since January 2007 – and most of the decades before then.

Obama said Greece had to make structural reforms and instill greater transparency in its economy

As they say in Greek, Ἰατρέ, θεράπευσον σεαυτόν — Physician, heal thyself!

But his main message was aimed at EU countries — and, by default, wealthy Germany — to step up to help Athens.

"Other countries in the euro zone are going to have to provide them a backstop and support," he said. "And frankly, people who are holding Greek debt are going to have to make some decisions, working with the European countries in the euro zone, about how that debt is managed." …

And maybe when the Germans and the rest of the hardworking Euros get done bailing out Greece they can start on us.

This article was posted by Steve on Wednesday, June 8th, 2011. Comments are currently closed.

8 Responses to “Obama Pledges US Help ($) For Greek Crisis”

  1. GetBackJack says:

    This is my problem with wars in Iraq, Afghanistan, Foreign Aid et al inter alia ….. throw plenty of money at problems Over There, but withhold those same dollars from our infrastructure, our advancement of technology, our schools, our ports, our transportation needs, and especially any sort of dollars devoted to developing American continent energy resources.

    Sure is fun throwing around Other People’s Money ain’t it?

  2. TerryAnne says:

    I hope Merkel gives him the finger. What right does Zero really think he has telling her what to do with her country’s money? Especially when Germany was one of the few who didn’t want to bail Greece out in the first place.

    Go ahead, Zero. Throw more of our money at lost causes (since that seems to be your forte). If you keep on, maybe you will tank our economy past the point of no return and it will make it far easier for us to get you as far, far away from DC as humanly possible.

  3. Rusty Shackleford says:

    In other news, Obama is also sending them more freshly printed dollars. You can find them if you vacation in Greece. They’re on rolls in the lavatories.

  4. Kaffeesatz says:

    I find it interesting that Ayn Rand got it so right many years ago with Atlas Shrugged.

    In the book, the economy in the US is collapsing, and yet the government is continually send aid to some Peoples Republic or another.

    Here, in the real world, the economy in the US is collapsing, and yet the government is continually send aid to some Peoples Republic or another.

    Who is John Galt?

  5. Mae says:

    Are liberals/leftists really this dumb? Yes, they are. Otherwise we have to believe they are doing this to the country deliberately. Now we don’t believe that, do we?

  6. Papa Louie says:

    Ever since Obama promised to increase aid to Africa by 100 Billion dollars, I’ve been wondering how a President can do that. The Constitution says, “All bills for raising Revenue shall originate in the House of Representatives”. Has the House already given the President a blank check to offer aid to Greece and anyone else he wants to help? If congress allows Obama to bailout Greece, it is time to clean house again in 2012.

  7. Chrispbass says:

    Oh no.
    My neighbor is broke and is being foreclosed.
    I’ll pay his mortgage.
    Oh no. I’m broke.
    No problem *calls loan shark* *grabs new credit card application*

    It’s surreal. Such a joke.

  8. Liberals Demise says:

    Our HNIC is a fool and needs to STFU!!

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