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EU Leader Says Obama's Economic Policies Are ‘Road to Hell’

Thursday, March 26, 2009
By Fred Lucas, Staff Writer

( - European Union President Mirek Topolanek told the European parliament Wednesday that Obama's economic policies were harmful to the U.S. economy and the global economy.

In response, the White House said it did not think the criticism would disrupt President Barack Obama’s meeting with European leaders next week.

“All these steps, these combinations and permanency, is the road to hell,” said Topolanek, who is also the president of the Czech Republic. “We need to read history books and the lessons of history, and the biggest success of the EU is the refusal to go this way.”

Topolanek cited the $787-billion stimulus package geared toward reviving the economy and the administration’s proposed $1-trillion plan to buy up toxic assets. The EU president’s rebuke came the week prior to the Group of 20 (G-20) meeting on April 2 in London.

“Americans will need liquidity to finance all their measures and they will balance this with the sale of their bonds,” Topolanek said. “But this will undermine the liquidity of the global financial market.”

European leaders from other countries have expressed concern about U.S. policies while Obama has called for every country to step up to get the economy working again. Topolanek’s comments were the strongest by any European leader.

The comments also come one day after the Czech parliament cast a “no confidence” vote against Topolanek, ousting him from office.

White House Press Secretary Robert Gibbs dismissed Topolanek’s remark and said it would not complicate the G-20 meeting.

“The president looks forward to his first meeting with the EU as an opportunity to discuss issues of transatlantic cooperation,” Gibbs said. “We’re going to be in Prague. He looks forward to a deepening relationship with the Czech people.”

Gibbs also brought up the political problems facing Topolanek.

“From what I can tell, the speaker has some domestic political problems that might speak more to what he was talking about,” Gibbs said. “I think the Czech people and the American people can be assured that the president of the United States of America is going to do all that he can do within his power to get our economy moving against and to restore confidence in that economy.”



I truely feel we are all on the road to a hell with this mess. His little cut backs are slowly beginning to surface. My next door neighbor recieved Medicad, she got a notice that she will be allowed to only fill 5 of her meds from now on each month. She has 8 that she must have to live.


Yeah I know it's a terrible situation to be in, medicare in this country sucks to high heaven. We need a system like Canada has.

I don't know if any of Obama's plans will ultimately work, some will take time to take effect and move things in the right direction, I seriously don't know enough about world economics to oppose or applaud Obama's ideas and plans. I can only say from the surface, that what he says sounds good, but without being a economy analyst expert, what I think could be way off target. I'd only be throwing darts at a board guessing if his plans will work or not. At this stage of the game all I can do is cross my fingers and hope hes right, and that he gets this country's economy back on track again...God I hope so.


Mr. T, I'm no economist either,'s just plain common sense that printing $4 trillion and giving it away will only devalue the currency. It is already happening now. As I predicted, the Euros are PISSED! They are holding hundreds of billions of our currency that is suddenly worth less than it was. They have been robbed and they will retaliate. Our problems are just beginning. One day,not too long from now,it will become apparant that all this spending was never designed to "recover" anything. It's obvious that you can't stay healthy by building things you can't sell or use as security on a loan. Roads,bridges,schools,libraries,and nature trails are worth NOTHING on the world market. And the money the people earn that build those things? Monopoly money. Worthless. You will eventually see that this "stimulus" spending is a huge scam perpetrated against the American people by a Democratic regime intent on buying the free enterprise system (with worthless currency) and controlling it. And just like a borrower who has run outta credit and finds himself owning a lot of worthless real estate and public works property that he can't sell or mortgage, we will be BANKRUPT.And Bush had nothing to do with it. We can thank Barak Obama and Nancy Pelosi. "Crossing your fingers and hoping for the best" may comfort you,but honestly,they do not want "it to get better". They're not dumb. They know it has never worked before and there is no reason to think it will now. I'm no conspiracy nut. But the intent here is so obvious and so blatant, it's startling.


That makes sense Moon, a lot of sense. I didn't mean it sound like I was saying in order to have a good or informed opinion on world economics one needed to be an expert, that was a poor choice of words on my part. Obviously people can read the writing on the wall without being a expert in the field. I guess I was just expressing my lack of expertise on the subject. You and others here are much better than I am about the economy, and politics in general.

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