“The Debt President”

Der Spiegel publishes a piece titled Chancellor Merkel Visits the Debt President, but I prefer the smaller print just above this headline, Obama’s Mistakes.  The piece notes the similarites between Bush’s policies in fighting the “war” on terror, and Obama’s policies in fighting the “war” on the economic front.  Some high points from the piece.

Ex-President Bush was nothing if not zealous in his worldwide campaign against terror, transgressing human rights and breaking international law along the way. Now, Obama is displaying the same zeal in his own war against the financial crisis—and his weapon of choice is the money-printing machine. The rules the new American president is breaking are those which govern the economy. Nobody is being killed. But the strategy comes at a price—and that price might be America’s position as a global power.

And this.

Obama’s Cheney is named Larry Summers. He is Obama’s senior-most economic advisor, and like the former vice president, he is a man of conviction. The financial crisis may be large, but Summers’ self-confidence is even larger. More importantly, President Barack Obama follows him like a dog does its master.

Linked via a post by Donald Sensing titled Machiavelli v. Obama, which is also worth a look.

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