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U.S. Investment Supporting European Socialism?

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  • Description

    FBN’s Lou Dobbs on U.S. financial and military support of Europe.

  • Duration 6:49
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Watching markets react to what's happening in Europe were watching a lot of political discussion in this country about whether or not.

This administration in the Democrats liberals are taking this country toward.

European socialism the debate goes on particularly in a presidential election year.

Critics say President Obama does wanna turn this country into Europe.

But let's take a look how likely that it is and see whether or not you you you you think it's a possibility.

The average -- -- vacation time in America -- issue probably well now.

In the US it's fourteen days.

Now.

Do we really want.

Do we really want poll fourteen days -- because it back.

Instead of the two weeks most workers actually we -- twelve days.

By comparison in Europe.

And we're gonna just this way European Union.

Europeans earn anywhere from 25 to thirty vacation days and we're told reliably that they take all of them.

25 to thirty days -- 50.

The thirty day.

And this is a good point for me to ask are you feeling so far about socialism.

It's not exactly represented the kind of work epic in and some people might consider -- proof of Europe's incident I Goldman.

That isn't working so well.

But instead of wondering whether we're headed down the same path maybe we should be asking why this administration continues to throw financial support.

Behind the European socialist -- Not just this.

This administration.

But previous administrations Republican and Democrat.

Right now in Europe we have 80000 of our troops -- 80000 troops.

Station.

-- -- any -- we're spending.

Billions.

And billions of -- The majority of those troops by the lawyers stations in Germany and Italy as you know we pump about 68 billion dollars into the I am now.

That's -- that's a lot of pontoons cost seventy billion dollars.

And we also have a significant trade deficit.

And by the way that money was used to bail out Ireland and Greece -- a couple of other places.

But what gets interest thing is when we look at the relationship between Europe.

And a the United States because we have been -- it's sort of implied by all of our leaders whether -- in congress -- they're Republican or Democrat whether it's the president.

That somehow the United States is responsible for the world our troops are in Iraq and Afghanistan.

We're fighting a war against terrorism.

And we -- paying most of the freight.

And for some that doesn't make sense and the reason is this as we explore the issue of whether or not becoming more like Europe is a good idea because there such economic upheaval.

-- but it's also interesting to see how we're supporting European socialism.

We're being re distributed all the way to Europe primarily despite all you hear about financial aid foreign aid to various countries.

US investment in the European Union I think about this.

US investment.

In the European Union.

Is three times what it is.

The rest the entire rest of the world.

Three time.

And European investment.

In this case we'll bring it this way in the U rounds.

Is eight times.

What -- do you invest.

In China.

And India.

Now we have special obligations -- -- we're America right.

Here's another uncomfortable.

The European Union is actually.

And larger economy.

Then.

Our.

As a matter of fact significantly more of the EU.

Seventeen -- and a half.

Trillion.

Dollars.

We could convert that the euros but we'll we'll stay American equipment.

And the US economy.

Right now.

Is fifteen.

Point 08.

Trillion dollars.

We've got 315315.

Million Americans.

They are paying union has 500.

Million citizens.

And we are shipping -- Material.

Our men and women in uniform.

To Europe we are supporting in terms of trade in support of investment.

Out by the way it's a mutuality.

Even -- we still.

Have a significant deficit with Europe our trade deficit.

But the fact is these -- cut these to.

Well the European Union and the United States.

Make up exactly half.

Of the world's.

It.

GDP.

So why is our Federal Reserve bailing out European banks why are we.

Even at the margin sending aid to European nations.

Why are we stationing.

Tens of thousands of our troops -- continuing to do so at one time by the way 300000.

Of our troops were in Europe.

The fact of the matter -- is the relationship with Europe requires a little discussion.

Because why should we be paying.

For the defense of Europe when they are both bigger than us as an economy.

They are bigger than us.

In terms of population.

What happened to fairness.

And why are we supporting.

Folks that.

Otherwise might not be socialists they might be a little more enterprising.

If they had to in fact.

Pay for their own defense Paper their own military.

And perhaps -- virus -- there we had have a little more money.

To do some other things like invest.

In ourselves.

Our schools.

How about infrastructure for our private sector to restore the country to prosperity.

It's not a simple as that -- and it's far bigger and far far.

Less spare far less even.

Isn't that -- the playing field is supposed to be mister president even it's time to come to terms with what we're doing in this kind of.

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