The presidents of France and Germany have proposed a number of things to address the crumbling eurozone. One of their goals is a "balanced approach." That has a different meaning than it does to Obama, though.

The leaders of France and Germany are pushing all 17 nations that use the euro to enshrine balanced budgets in their constitutions and want greater collective governance of the eurozone.

So, facing tough economic times just as the United States, Europe is increasingly recognizing that the solution is a true balanced approach. That is, a balanced budget. Italy started that discussion last week and it looks like Europe is awakening to the necessity of this level of fiscal responsibility.

In Obama's America, however, a "balanced approach" means increasing taxes. Some relevant quotes from Obama:

• "What we're talking about under a balanced approach is asking Americans whose incomes have gone up the most over the last decade -- millionaires and billionaires -- to share in the sacrifice everyone else has to make." - USA Today, 7/25/2011
  
  
• "He [Obama]urged Americans to make their voices heard and let their representatives know they support "a balanced approach to reducing the deficit." - Telegraph UK, 7/26/2011
  
  
• "Since you can't close the deficit with just spending cuts, we'll need a balanced approach where everything is on the table." - Huffington Post, 8/2/2011
  
  
• "He [Obama] criticized his potential 2012 rivals for their unwillingness to include new taxes in any deficit-cutting compromises. "'You need to take a balanced approach.'" - Austin Daily Herald, 8/11/2011

Meanwhile on the idea of a balanced budget amendment:

• Press Secretary Carney said: "What we don't think is necessary to amend the Constitution... it doesn't take a balanced approach. We don't support that." - White House Press Briefing, 4/26/2011

In Europe they understand that a "balanced approach" means a balanced budget.

As for Obama and "balanced approach..." To borrow from a well-known movie, he keeps saying those words, but I don't think they mean what he thinks they mean.