Obama, in a Feb. 9 Oval Office interview, said that a presidential commission on the budget needs to consider all options for reducing the deficit, including tax increases and cuts in spending on entitlement programs such as Social Security and Medicare.Remember “Read my lips, no new taxes”? It was a promise made by a one term president.
German Chancellor Angela Merkel has announced that Germany will not rescue Greece.
Despite a show of Franco-German unity on the crisis and the first statement from EU leaders pledging to safeguard the currency's stability, hopes on the markets of a German-led rescue plan to shore up Greece's critical public finances were dashed by Merkel, who repeatedly emphasized that Athens would need to put its own house in order and brushed aside all questions of financial support.I am sure that in the coming days we will see Greeks overturning and burning cars. A better solution would be to eliminate the unions that have crippled the Greek economy and made Greece one of the less competitive nations in Europe.