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The buck stops in Berlin?

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    President blames poor US economy on Europe

  • Duration 4:02
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-- the American economy taking so long to recover.

Well for months -- Obama has been shifting the blame toward Europe.

One concern is -- which faces the threat of renewed recession as countries deal with -- financial crisis.

Obviously this matters to us because Europe is our largest.

Economic trading partner of the economy still isn't where it needs to -- -- steps -- could make a difference right now steps they can also serve as a buffer in case the situation in Europe gets any worse.

But does the buck really -- in Berlin will let's ask the speaker Nancy you know -- becoming media good morning to me.

Good morning graduate may issue in ballots all of thank you so much I loved living there -- all the -- -- what do you think about this whole tactic.

That Europe is what's influencing the American economy.

-- -- -- -- If you notice there haven't been any leaks from this administration of top secret discussions of the economy.

Because it would be embarrassing I'm fortunate we have an administration that seems to be on a constant search for scapegoats.

And now -- Europe.

One of the few bright spots that we've had on this economy over the past couple of years actually -- exports to Europe they've actually gone up.

But the European economy thus far -- have next to no impact on the US economy and won't unless there's a full scale economic collapse on the continent.

So that I just one more part of this blame game and I say that the blame game is -- from the Obama administration.

Well here's example you're trading partners all right coming -- terms of importance and how the volume.

We trade with Canada China Mexico Japan more than we do any European nation.

So it to say that we're not connected at all wouldn't be accurate but to say that we have with the earth moves when they move that's an accurate either.

No it isn't but I you know there is something ironic about the president's.

I guess created a -- -- -- blame Europe.

Four of the economic calamity that we have in the United States and that is.

Europe is giving us a preview of what will happen if we continue with these catastrophic policies under the Obama administration -- which is.

Massive our government debt crushing.

Unemployment.

You know.

Stagnant economic growth.

That's what's going on in Europe and it's because of these frankly state his policies.

That the President Obama has embarked upon -- -- he wants to spend six trillion dollars more over the next decade.

Then governor Romney has proposed in his budget.

A six trillion dollars more so it's it's really an opportunity for us to say guess what we don't want to go where Europe is right now that's not gonna work.

And that that was exactly and I was gonna ask you leave because there is some connection would you at least say between Wall Street though and what happens in Europe because of the World Bank's situation right now so.

We do see any impact of of what's going on in Europe.

Sometimes in the stock market right.

There is again if there's -- you know certainly if there -- a massive.

Financial collapse.

It would affect us here but.

We've seen you know we -- the Asian debt crisis in 1997.

Our economy kept doing great even when we had the stock market crash -- 1987.

Under President Reagan our economy continue to grow in fact started to boom.

Which brings us through this entire thing -- blaming.

The US congress which is the other scapegoat the administration has come up with under President Reagan he had a Democrat controlled house the entire time he was president.

He had to grapple with the worst economic crisis and the Great Depression we may have had the worst financial crisis back in a way but not the worst economic crisis under Reagan unemployment -- -- But nearly a full percentage point higher than a -- of this recession.

And yet by the time President Reagan had been off as long as Obama we were growing right 43 times as fast.

Employment was growing four times as fast as it is not so blaming is not the solution we speak -- thanks so much.

Glad to be there joining us from Texas supreme.

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