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...Many European nations think that the U.S. approach of putting hundreds of billions of dollars of taxpayer money into the pot to increase jobs, cut taxes for most citizens, and put a safety net under financial firms is excessive. One of the things that these governments rarely admit is that they may not have the capacity to borrow in the open debt market the way that the U.S. Treasury can. China may not want to own paper from the Grand Duchy of Luxembourg and it is hard to blame the communist central government in the big Asian country for that...

Author: /time Magazine | Title: Why Europe's Criticism of the Stimulus Got Out of Hand | 3/26/2009 | See Source »

...Whether the comments are repudiated by other members of the E.U. now or not, the cat is out of the bag. After behind the scenes conversations about the aggressiveness of the U.S. approach, the views of a number of American allies are now crystal clear - America is spending itself into a hole which it cannot get out of, and the nation is on a course which will eventually lead to socialism. It isn't a big stretch, after those comments, to see that Topolanek may be a Republican Senator disguised as a Czech official...

Author: /time Magazine | Title: Why Europe's Criticism of the Stimulus Got Out of Hand | 3/26/2009 | See Source »

...That answer to all of these questions is that it does not matter. The American approach to saving its economy is radical compared to that of almost any other nation and that is not going to change. No other country can marshal the resources that the U.S. government can because of its unprecedented ability to raise money. And, the American presidency and control of both houses of the legislature are held by the same political party...

Author: /time Magazine | Title: Why Europe's Criticism of the Stimulus Got Out of Hand | 3/26/2009 | See Source »

...fair-minded, intellectually honest postpartisanship, as proved by the congressional votes on the stimulus package and the redoubled ferocity of brain-dead partisans. But a majority of Americans out in America are dialing back or turning off their ideological autopilots, thanks to the economic crises, Obama's approach and the post-Cold War realities. With the Soviet Union gone and China socialist in name only, the specter of communism is no longer haunting us, and charges of socialism have lost the political power they had for most of the past century. Rather, it's suddenly capitalist piggishness that provokes genuine...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

...Obama is a big improvement on Bush across the board, but he hasn't faced any test that measures his ability to use power," Gelb says. Indeed, Obama's approach to Iran comes straight out of Gelb's chapter on "stage-setting" - preparing the field for successful diplomacy. Obama has worked the Iran account obliquely - beginning negotiations that might make the Russians a less willing enabler of Iran's nuclear program, approaching Syria in a way that might entice that country away from so close an alliance with Iran. He also made a direct approach to the Iranian people, taping...

Author: /time Magazine | Title: Obama on the World Stage: What Power Means | 3/26/2009 | See Source »

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