Sunday, July 28, 2013

Touchingly Naive

The President summed up his economic priorities close to the top of his hour-long address. "This growing inequality isn't just morally wrong; it's bad economics," he told his Galesburg, Illinois audience. "When middle-class families have less to spend, businesses have fewer customers. When wealth concentrates at the very top, it can inflate unstable bubbles that threaten the economy. When the rungs on the ladder of opportunity grow farther apart, it undermines the very essence of this country."

RIIIGGGHHHT. Because the government's track record for shaping economic outcomes for the better is SO compelling; world over, governments are making dynamic, positive changes for the better!! We in the US just a few more tweaks to make the middle class more wealthy and everything will be better.

Or as the author said: For four and a half years, Mr. Obama has focused his policies on reducing inequality rather than increasing growth. The predictable result has been more inequality and less growth. As even Mr. Obama conceded in his speech, the rich have done well in the last few years thanks to a rising stock market, but the middle class and poor have not.

Jeezus, who could believe this President about any economic issue at this point? Isn't it completely clear he has no insight?

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