I don’t mind telling you: I gain serious personal satisfaction from the fact that my 4th grade (soon to be 5th grade) daughter takes a keen interest in politics, economics and business. Perhaps it’s the fact that her mother complains that I talk about these matters too much and she feels the need to pry that door open…or perhaps it’s just that she, like her father, is interested in the topic areas (I teach business and economics here in the Hoosier State).
Whatever the reasons, I found her watching some Obama footage on C-SPAN yesterday and decided to sit with her in case she had any questions. For reasons known only to her, she asked first about Bain Capital:
“Daddy, why does the president hate Bain Capital?”
My response: Because he feels that investing money and creating wealth to help private businesses succeed is not good for the U.S economy
To which she responded:
“Did Mr. Romney help businesses?”
My response: 78% of the businesses Bain Capital invested in while Mr. Romney was a leader in the company succeeded.
To which she responded:
“Didn’t you tell me that about half of American businesses fail within 5 years?”
She was listening after all… 🙂
She continued, “So how is creating wealth to help businesses a bad thing?”
I responded: Honey, it’s a very great thing…and very necessary for a free market economy.
Here’s where the conversation got interesting…
“What has the president done to help businesses?”
My reply: He pushed what he called a “stimulus” to repair roads and bridges. It will end up costing the country $831 billion
My daughter gets a strange look on her face…
“But my teacher says that the unemployment is higher than before”.
Brace yourself…she heard this in a public school 4th grade classroom…
I said, “Yes, the rate of unemployed Americans is higher than when the president took office.”
She says, “So it didn’t work, right?”
I said, “It wouldn’t appear that it did.”
She says, “Wait…fixing roads…don’t those jobs end after a while?”
I said, “Yes…once the work is over, the job is completed.”
She says, “So will those workers have to hope for another job from the president?”
I said, “Hopefully it won’t come to that, but they may well have to.”
She said (much to my amazement), “So they go from one government job to the next. Isn’t that what you called socialism?”
I told her, “Yes, it is a very common form of government socialism we call a ‘planned economy’. It costs a lot and creates virtually no wealth.”
To which she replied, “So the president hates wealth creation and wants the government to give people jobs.”
I said, “Yes.”
She says emphatically, “Then the president is a socialist…don’t vote for him.”
I said, “Don’t worry, honey. No one I know will vote for him” (OK, little white lie there…I DO know a few, but she would have grilled me for their names, and I didn’t want them on her verbal hit list)
You heard it here first…one day my daughter will be the president. Thank the good Lord she’s on OUR side!
Until then, let’s all work tirelessly to elect the wealth creator and friend to a free-market, strong private-sector economy, Mitt Romney.
Don’t make my daughter come looking for you 🙂