Here is a bit from the folks at Reason.com on President Obama’s latest state of the Union
speech bloviating. Excerpt:
Obama’s economics are stuck in the 1970s, without the added benefit of wide lapels and airline deregulation. He has dropped all pretense of what he was promising in 2009 – a net spending cut, closing Guantanamo Bay, reforming entitlements. His ideas are so tired that the climax of his speech—literally—was to let a grateful nation know that he still believes the same stuff he said in a speech 10 years ago.
The good news is that everyone will have forgotten this turd sandwich by the end of the week. The bad news is that he’s still the president, they’re still the Congress, and we’ll be back again for more drivel next year.
It’s inarguable that what President Obama does not know about economics would fill several large volumes – although, possibly, not as many as the U.S. tax code. That monstrosity, though, is a topic for another day – even though one of President Obama’s current stated projects is “tax reform,” by which he means “raising taxes.”
The folks at Reason are correct; Barack Obama has nothing new to offer when it comes to economics. Like all too many in the Imperial City, he has never worked in the private sector; he has never had employees, never had to meet a payroll, never struggled to figure out the break-even point on a new product and he sure as hell has never had to leap through all of the legal and regulatory hoops involved in a small-business startup.
And that’s why, last night, he managed to talk for quite a while about the economy, without really saying anything.