Der Spiegel

Chancellor Merkel Visits the Debt President
Der Spiegel

The occupant of the White House may have changed recently. But the amount of ill-advised ideology coming from Washington has remained constant. Obama’s list of economic errors is long — and continues to grow.

The president may have changed, but the excesses of American politics have remained. Barack Obama and George W. Bush, it has become clear, are more similar than they might seem at first glance.

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.

Just as the US public initially rallied behind the war President Bush — even to the point of re-electing him — Americans have now thrown their support behind the debt president Obama. The mistakes of the Bush administration are now widely accepted. The mistakes of the Obama administration are still not recognized as such. They are seen as the truth.