Is the U.S. on the Road to Economic Hell or Recession Recovery? 
The article by Tony Barber in Brussels and Edward Luce in Washington explained:
"European Union hopes for a new era in relations with the U.S. were thrown into chaos yesterday when the holder of the EU presidency condemned American remedies for the global recession as `the road to hell.'
"Mr. Topolawek said EU leaders had been disturbed at a summit in Brussels last week to hear calls from Tim Geithner, the U.S. Treasury Secretary, for more aggressive policies to fight the global downturn.
"The U.S. is repeating mistakes from the 1930's, such as wide ranging stimulus's, protectionist tendencies and appeals, the Buy American campaign and so on.
"Angela Merkel, Germany's Chancellor, disagrees with U.S. calls for big fiscal stimuli to battle the recession."
The interest on the national debt of the U.S.A. is currently $200 billion it was declared on CNN March 25. That along with the two $700 billion loans, the interest on the U.S. national debt could go as high as $800 billion (in interest payment alone) for U.S. taxpayers to pay.
Some U.S. taxpayers presented their views in the New York Times.
Jeanne W. Ross of Cambridge, Massachusetts wrote on March 22 to the New York Times:
"Paul Krugman got it right. The latest financial services rescue plan suggests that the Obama administration has not yet understood how dysfunctional the culture of Wall Street has become.
"The people who got us into this mess may be smart enough to save themselves but they have not assumed responsibility for getting the country back on its feet.
"The administration's plan feeds a broken system and reinforces an entrenched mind set.
"That mind set clearly doesn't allow for the kind of creative thinking needed to make any rescue plan work for the American people.
"The economic crisis presents an opportunity to drive a dagger through the heart of the Wall Street culture. I fear that our leaders will fritter away this opportunity along with our tax dollars."
Jeanne W. Ross speaks for many Americans. American recovery needs a stronger building base than bailing out bankers, the very ones that generated the nation's current decline.
KEYWORDS: Angela Merkel, Timothy Geithner, Obama Economic Bailout
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