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In February 2009 while the United States Congress debated [[President Barack Obama]]'s [[American Recovery and Reinvestment Act of 2009|economic stimulus package]], Putin suggested the [[United States]] learn from Russian history and not exercise "excessive intervention in economic activity and blind faith in the state’s omnipotence". Speaking to Putin the World Economic Forum in Davos, Switzerland Putin said,

In February 2009 while the United States Congress debated [[President Barack Obama]]'s [[American Recovery and Reinvestment Act of 2009|economic stimulus package]], Putin suggested the [[United States]] learn from Russian history and not exercise "excessive intervention in economic activity and blind faith in the state’s omnipotence". Speaking to Putin the World Economic Forum in Davos, Switzerland Putin said,

{{Cquote|In the 20th century, the Soviet Union made the state’s role absolute... In the long run, this made the Soviet economy totally uncompetitive. This lesson cost us dearly. I am sure nobody wants to see it repeated.../.Nor should we turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors, and shareholders for their decisions, is being eroded in the last few months. There is no reason to believe that we can achieve better results by shifting responsibility onto the state.<ref>[http://www.therightperspective.org/2009/02/11/putin-warns-us-about-socialsm/ Putin Warns US About Socialism], The Right Perspective.</ref>}}

{{Cquote|In the 20th century, the [[Soviet Union]] made the state’s role absolute... In the long run, this made the Soviet economy totally uncompetitive. This lesson cost us dearly. I am sure nobody wants to see it repeated....Nor should we turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors, and shareholders for their decisions, is being eroded in the last few months. There is no reason to believe that we can achieve better results by shifting responsibility onto the state.<ref>[http://www.therightperspective.org/2009/02/11/putin-warns-us-about-socialsm/ Putin Warns US About Socialism], The Right Perspective.</ref>}}

President Barack Obama, who did not know Putin's position in the Russian government,<ref>[http://digg.com/politics/Obama_Doesn_t_Know_Who_Russia_s_President_Is Obama Doesn't Know Who Russia's President Is], [[Reuters]], July 6 1009.</ref><ref>[http://www.nytimes.com/2009/08/02/weekinreview/02barry.html?_r=1 America Hears a Gaffe, Russia Sees a Plot], Ellen Berry, ''[[New York Times]'', August 1, 2009.</ref> told the ''[[Associated Press]]'', Putin needs to understand "that the old [[Cold War]] approaches to U.S.-Russian relations is outdated, that it's time to move forward in a different direction."  Putin's spokesman Dmitry Peskov responded, "Such a point of view has nothing to do with a true understanding of Putin....By all appearances he does not have full information about [Putin's] views."<ref>[http://www.cbc.ca/world/story/2009/07/03/obama-putin-interview145.html Obama wrong about Putin], CBC News, July 3, 2009.</ref>

President Barack Obama, who did not know Putin's position in the Russian government,<ref>[http://digg.com/politics/Obama_Doesn_t_Know_Who_Russia_s_President_Is Obama Doesn't Know Who Russia's President Is], [[Reuters]], July 6 1009.</ref><ref>[http://www.nytimes.com/2009/08/02/weekinreview/02barry.html?_r=1 America Hears a Gaffe, Russia Sees a Plot], Ellen Berry, ''[[New York Times]'', August 1, 2009.</ref> told the ''[[Associated Press]]'', Putin needs to understand "that the old [[Cold War]] approaches to U.S.-Russian relations is outdated, that it's time to move forward in a different direction."  Putin's spokesman Dmitry Peskov responded, "Such a point of view has nothing to do with a true understanding of Putin....By all appearances he does not have full information about [Putin's] views."<ref>[http://www.cbc.ca/world/story/2009/07/03/obama-putin-interview145.html Obama wrong about Putin], CBC News, July 3, 2009.</ref>