What is most bothersome about the blah-blah-blah we are now hearing from the Republican Presidential candidates and from President Obama is that none of the blah-blah-blah contains any solutions to the economic malaise we are experiencing in the US. And the same is true of European leaders with respect to the Eurozone's economic problems.
The US economy remains the largest in the world, while the aggregate of the Eurozone country economies is second largest. If these economies falter any further, we are almost certain to be on a path toward global recession.
We need bold leadership on both sides of the Atlantic to move the global economy toward growth and away from recession --- and we aren't getting any kind of leadership at the moment.