Obama Pushes G20 Leaders to Spend, Spend, Spend

President Obama is throwing concern for deficits out the window and pushing the other G20 leaders to keep spending as a stimulus to the global economy. They are pushing back over concern the world is broke.

The Hill reported;

President Barack Obama’s push for continued global stimulus in light of a tenuous economic recovery was largely pushed back at the G-20 as world leaders agreed to focus on deficit reduction.

Obama and his team have repeatedly warned that while the worst of the crisis has passed, the recovery is still “uneven and fragile” and ongoing stimulus efforts are needed.

But European leaders, led largely by German Chancellor Angela Merkel, have pushed back on increased spending as deficits rage out of control.

The World is Broke, But Obama Urges Countries To Keep Spending

What do you do when you run out of money? You cut back your spending of course. German Chancellor Angela Merkel understands this economic reality.

German Chancellor Angela Merkel directly contradicted US President Barack Obama on Saturday, saying spending cutbacks were now needed following the spate of throwing money at the global economic crisis.

As for President Obama, he doesn't get it.

Obama urged the world’s leading economies Friday to avoid scaling back government spending too quickly or risk derailing the global recovery.

The $5 trillion 'new world order' plan(video)

The G20 nations have announced a deal on a $5 trillion 'new world order' plan to stimulate the global economy and add regulation to companies. Anything that is associated with the term 'new world order' can not be good news for the U.S. Apparently, President Barack Obama has agreed to the plan. How much of the $5 trillion the U.S. is responsible for is unclear.

G20 pledges 'new world order' with 5 trillion dollar plan