EU Commissioner Blames U.S. For Europe's Debt Problem

Following the conclusion of the G20 summit in Mexico, the EU Commission President, Jose Manuel Barroso, took aim at North America (specifically the U.S.) for Europe's deficit and spending problems.  In an oh-so Obama-esque blame-the-U.S. moment, he ranted that the U.S.  banking problems and U.S. housing collapse are responsible for the current, near collapse of the European Union and Euro dollar.  He went on to take a slap at our country by saying that Europe "needs no lessons on democracy or economics".  Of course, our own President nor anyone else in his Administration never once contested Barroso's claim or even came to the defense of the U.S.; proving, once again, our truly anti-American President really does blame us for every evil in world.


I think it should be pointed out that Mr. Barroso is a former Prime Minister of Portugal; and,  Portugal is one of the European "PIIGS" -- Portugal, Italy, Ireland, Greece, and Spain -- who's out-of control-spending is in the process of literally bringing down the European Union.  

The economic problems in Portugal are simply defined and have nothing to do with the United States' banks or housing problems.  Due to liberal, socialist policies, the labor participation rate in Portugal is  only 56.4%; which means, conversely,  nearly 44% of the population doesn't work all.  Then, too, of those that do work, 30% don't pay any taxes.  So, in effect, you have 40% of the population pulling the load for the remaining 60%. Now, I wouldn't want to lecture or school Mr. Barroso on economics -- seeing that he has a Masters of the Science of Economics from Lisbon University -- but, when you have an economy where there are so few workers and so few people paying taxes to support an overspending government, you have a formula for economic disaster.   And, that's exactly what has happened to, not just Portugal, but all the rest of the PIIGS who are wallowing around in debt.  

The European financial problems were years in the making with the enactment of one fat social program after another.  The recession only caused the debt problems to be exposed earlier; rather than later.  But, even if there was no recession, the debt problems of the PIIGS would eventually come to light and, in doing so, the European Union would still be on shaky ground.  


I'm quite sure that Mr. Barroso knows that he is being disingenuous in his assertions about the U.S. causing his precious EU problems.  My guess is that he's playing the "blame North America" card as a political means to shame the United States into giving the European Union tons of bailout money so the PIIGS will no longer be forced to become fiscally responsible.  Of course, Obama, the consummate apologist for past U.S. policy, will feel the need to make things right with Europe and provide the bailout that the EU so desperately needs.