Trying not to gloat.
OK, so he is, especially now that it’s clear that stimulus leads to sunny skies and happy days, and austerity to this guy. So he’s grateful that the Europeans have finally changed their tune, to an extent, because—as he’d like to reiterate—he’s sick and tired of manning the jack all by himself.
“While the recovery in the U.S. economy has helped to drive global growth, the rest of the world cannot depend on the United States to be the sole engine of growth,” he said in remarks to the House Ways and Means Committee….
He compared the global economy to a car. If one tire is fully inflated, and the others “are either flat or losing air, that’s not good,” he said. “We have a global economy that needs to have fully inflated tires everywhere.”
Lew: Global Economy Can’t Depend Just on the U.S. for Growth [WSJ Real Time Economics blog]