Obama, French Socialist Francois Hollande – a “better fit”

The New York Times, not exactly a conservative think tank, suggests that the newly elected French Socialist President Francois Hollande and his economic policies are a “better fit” with President Obama’s economic tax and spend agenda.


“With the victory of the Socialist candidate, François Hollande, in the French presidential election,” the article begins, “the White House has lost one of its closest allies on the Continent, but perhaps gained one with economic policy beliefs more closely aligned with its own.”

The article then goes on to present its case: Hollande is against austerity, Obama is against austerity; Hollande believes in government spending its way out of recession, Obama believes in government spending its way out of recession and both are creating insurmountable debts for future generations – but who cares.


“Austerity need not be Europe’s fate,” Mr. Hollande said shortly after his victory. To that end, he has said he plans to renegotiate the fiscal pact Europe struck this winter to allow for more budgetary breathing room for countries that can still borrow money to support themselves at reasonable rates on the debt markets. He also supports measures to support growth by, for instance, bolstering infrastructure spending.

The Obama administration had pushed for such pro-growth policy changes even as Mr. Sarkozy joined Chancellor Angela Merkel of Germany in calling for deep spending cuts.

Looks like Obama has found some presidential support in his quest for wealth redistribution in the name of “growth”.