So, in Europe, they're cutting people's retirement and health benefits. And that's what we want to avoid from happening. They're raising taxes, entering a recession. That's the kind of economic program that President Obama has put in place.

Summary

This quote implies that the speaker wants to prevent the cutting of retirement and health benefits in the same way they are currently happening in Europe. They argue that these cuts, along with other measures such as raising taxes, have led to a recession. The speaker criticizes the economic program implemented by President Obama, suggesting they associate it with actions and consequences similar to those observed in Europe.

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