The ignorance and misunderstanding displayed by Barak Obama when it comes to the private sector is nothing short of astonishing. Time and again, he has demonstrated his inability to comprehend even basic economic realities. Even more disturbing, from Obamacare to his failed “stimulus” program, he has also shown utter contempt for the free market.
One reason for this is that, like most liberals, Obama sees a private business as a social welfare vehicle, whose primary reason for existing is to “provide jobs” to people. The idea that a business is a commercial enterprise, created and managed to make a profit for its owners, is completely foreign to liberals like Obama. To them, a business has a “social responsibility” – the same kind of thinking that produced the Community Reinvestment Act, which forced banks to lend money to people who would normally never be able to qualify. The entirely predictable result was the housing bubble, as many of those “sub prime borrowers” defaulted, sending housing prices tumbling.
Obama himself recently lamented that so many business owners today are having the audacity to “do what is best for their companies” instead of doing what he wants them to do – i.e. recklessly hiring more workers in the middle of a recession. Now there’s a shocking revelation – companies look out for their own best interest. Imagine that. Naturally, Obama also has no clue that one of the biggest reasons that so many companies are reluctant to hire is their uncertainty over what kind of anti-business policies he and his Democrat colleagues are going to come up with next.
In spite of the abject failure of his quasi-Keynesian approach to get the economy back on track, he still just doesn’t get it. That is because Obama’s view of government as the solution to every conceivable problem in life is so entrenched in his thinking that he cannot extricate himself from it. Which is why his horribly misguided ideas like the $800 Billion dollar “stimulus” package come as no surprise. And why there are now rumblings of yet another round of spending, using money we don’t have.
Adding to his own ignorance of economics and the free market, Barak Obama’s cabinet has fewer members with actual private sector business experience than any president in U.S. history. Instead, he has surrounded himself with the same kinds of left-wing academics and lawyers that made up his circle of friends throughout his life. The results of such “group think” are predictable – more of the same socialist policies that have left us owning more than $14 TRILLION dollars, most of it to the Chinese.
Predictably, government interference in private markets, other than to prosecute things like outright fraud, is invariably detrimental to everyone involved – except, of course, to the legions of new government workers such policies produce. But Obama, like most liberals, sees more and bigger government as the solution to every problem in every area of life. So don’t look for any flash of economic insight to suddenly halt Obama’s headlong rush to destroy the American free enterprise system.
In fact, Obama made almost back to back gaffes that showed him to be either incredibly out of touch with the American people, or just plain clueless. On Monday at, ironically, his Jobs and Competitiveness Council meeting in North Carolina, Obama crassly made light of the lack of jobs created by his “stimulus” program, saying “shovel ready is not as shovel ready as we expected” – his sycophants in the media chuckled. I wonder if the 18% of Americans who are out of work (the REAL number) thought Obama’s remark was funny.
Then, only one day later, on the June 14 edition of the Today Show, he tried to blame unemployment on, of all things, technological progress – he cited ATM’s as one of the reasons that so many people are out of work. Apparently, Obama believes that if we brought back manual elevators, happy days would soon be here again.
I was (proudly) attacked by none other than the New York Times for referring to Barak Obama as our “Trainee President” – but after more than two and a half years even a trainee would be expected to show some signs of improvement. Not our President. Even when confronted by the cold hard facts that his programs have failed miserably, his abject refusal to change course shows that he clearly has learned nothing.
It is becoming blatantly obvious to any rational person that our only hope as a nation is to make sure that Obama and his Democrat majority in the Senate are replaced in 2012. Failing that, America’s “best days” may no longer be ahead of us.