I majored in Finance, but you don't need a degree in economics to understand this basic principle:
"Long term wealth grows when money is working for you. It's smart. Poverty is preceded by spending more than you have and when money is working against you. It's not smart."
The United States of America is spending too much money. Period!
Obama may be a wonderful person, even a charismatic individual, but Obama's administration is simply on the wrong track to fix the economy. You just don't spend that much money without a plan on how to repay your debts. (Yes, I know what you're thinking, but remember, the subject I'm on about is long term wealth.)
And why am I concerned? Simply because the economy is increasingly interdependent and global. The US economy will affect everyone else. So yes, the decisions made in Washington should concern European citizens (again, long term) just as much as it does any American. That's why I second Tony Blankley's statement: "Don't increase benefits; cut costs. Now".
While in the US these past weeks I enjoyed a favorable exchange rate, but quite frankly, I'd rather pay more for every US dollar, simply because I believe that's what the global economy needs - long term.