EU has failed spectacularly Obama is still promising European socialist model

 Sahit Muja

Sahit Muja: EU has failed spectacularly Obama is still promising European socialist model

President Obama is a politician that will pander to any demographic needed to buy their votes. He wants Americans to dependent on the Federal Govt.

The voters figured out they could vote themselves money, socialized medicine, and welfare programs from the treasury by electing President Obama who promised to give them money from the treasury in exchange for electing them. The number of people that do not pay taxes outnumbers the people paying taxes, this is good news for Obama.

The disgusting rhetoric form our President foreshadows the economic disaster we face.

The euro fell below $1.21 for the first time in two years during European trading Thursday, while the yen was broadly stronger after the Bank of Japan held off from expanding its asset-purchase program.

The reason Europe and US is in such trouble is because they followed the Keynesian textbook.

When economy ran into trouble, US and EU ramped up government spending. They ran huge deficits on programs, millions of government employees, socialized medicine, and welfare programs.

Now the chickens have come home to roost and all they have to show for their government spending is massive debt and high unemployment that will burden their economy for over a generation.

What is unfolding all over Europe and in large part across our very own states that have similar political frameworks - high taxes, high spending and big government entitlements, should be a wake up call to all Americans.

You can tax 100% of the income of the "rich" and it still doesn't put a dent in the spending going on with Obama's administration.
Furthermore, look what is happening at the state level when you "tax the rich" and "tax corporations." They all flee for higher ground.

Instead of getting a piece of the tax revenue, now those governments are getting 0 because people in states like NJ, NY, CA, MD, etc. are all moving away to more favorable states.

The same happens with corporations and entire industries.
Is this not common sense? When you tax people and companies in a way that discourages investment, business and even residency in that tax area, it results in a larger net loss of tax revenue.

Socialism is a rampant failure at every turn, yet folks like President Obama is still willing to give it a try for 4 more years.

The U.S. would do well not to go down this path.

Today, we have $16 trillion in debt, which is more than 100% of our GDP. Thanks to President  Obama's spending,  we're adding debt at a rate of more than $1.2 trillion a year. The US poverty has deepened fueled by unemployment.The US now has the highest poverty rate – ever.  President Obama has failed spectacularly.

Watching the slow-motion collapse of the EU, the American people should learn a vital lesson and respond in 2012 election:

You can't spend your way to prosperity, and the lavish promises of the never-ending welfare state can't be kept.

U.S. voters have a choice between more spending, bigger government and higher debt. = A failed European socialist model — or  economic growth, smaller government and fiscal restraint.

Sahit Muja
President and CEO
Albanian Minerals
New York