Skip to content

Important Words And Views From President Obama

April 2, 2009

The most poignant cover of any news magazine recently was, I think, the April 6, 2009 edition of Time with the red button placed on a white background.  The button had the word ‘reset’ on it.  I think it was a bold statement about the economy, America, and our way of life.  I thought again about the cover, and that lead article when listening and reading about the G20 meetings in London.  The words of President Obama are clear, and should be a clarion call for the world to hear.

Speaking alongside Mr. Brown after the two men met, Mr. Obama warned against returning the United States to the habits of the past decade, and the twin trade and budget deficits they created.

“The United States will do its share,” he said, “but I think that one of the things that Gordon and I spoke about is the fact that in some ways the world has become accustomed to the United States being a voracious consumer market and the engine that drives a lot of economic growth worldwide. And I think that in the wake of this crisis, even as we’re doing stimulus, we have to take into account our own deficits.”

He said he and fellow leaders had an “enormous consensus” on the need to take bold steps to revive growth, and urged them to focus on what they can achieve at home. “If there is going to be renewed growth it can’t just be the United States as the engine, everybody is going to have to pick up the pace,” he said.

But Mrs. Merkel and Mr. Sarkozy laid out a different argument: that the United States had only now begun to understand the cost of poorly regulated free-market capitalism, and must now bow to the European model. “The foundation for this new financial architecture must be laid now,” Mrs. Merkel said. “That is why we seem to be so tough.”

One Comment
  1. Thomas J Canton permalink
    April 2, 2009 5:03 PM

    “But Mrs. Merkel and Mr. Sarkozy laid out a different argument: that the United States had only now begun to understand the cost of poorly regulated free-market capitalism, and must now bow to the European model.”

    Does this mean that the President wants to take us to bow down and worship the “European Market Model God”?

    I’m scared, very scared if this where the President wants to take us to..

    Did I mention I was scared???

Comments are closed.

%d bloggers like this: