Earlier this summer President Obama urged the Europeans to increase their stimulus spending, arguing that only by running up huge and unsustainable debt could countries avoid a damaging recession. Angela Merkel, the Chancellor of Germany, replied that Germany would not listen to such nonsense, but would cut back on its spending and rely on the German economy to work its way out without further government interference. The idea of not relying on the government for everything is anathema to those of Obama’s stripe, and so the president was entirely discomfited by what he undoubtedly thought was lese majeste. How dare the mere Chancellor of Germany defy the Anointed One? But she did, and the results proved her right and Obama wrong. Not that he would ever admit it. And what is worse, from Obama’s point of view, is that other countries are going along with Merkel.

 

 

Obama’s wagons in a circle

Thanks to a feisty Mrs, Merkel

She who says the debt’s too high

The poor want bread, we give them pie

Obama says the public knows

That only as the spending grows

Will countries avoid nineteen thirty

He knows because a little birdy

Told him that increasing debt

Is chancy, but the way to bet

But Angela just sits and smirks

She knows what’s right and knows what works