Just when you thought that some of the European countries were gaining some economic commonsense and rejecting the disastrous path which bankrupted Greece took -- with attempts to balance their budgets and cutting some of their bloated government programs -- one of the major European nations went even further to the left this past weekend. Incredibly, French voters elected the Socialist Party leader, Francois Hollande, as their president over the “conservative” President Nicolas Sarkozy who broke many of his campaign promises made five years ago when he was campaigning for president.
After his victory on Sunday, the socialist Hollande actually promised that he would institute far more government spending programs to turn the French economy around and increase taxes on -- altogether now -- “the wealthy.” Hmm. Sound familiar? Barack Obama instituted a whopping one trillion (with interest) dollar spending program shortly after he was inaugurated and then rammed through Congress: the multi-trillion dollar ObamaCare. Of course, Obama’s trillion dollar “stimulus” was an abject failure just as French president-elect Hollande’s socialist programs will be.