Obama: The Economy Is Weak Because The Government Isn’t Spending Enough
When Obama said “The private sector is doing fine,” yesterday that statement got a lot of attention. What hasn’t gotten as much attention is what he said next: “Where we’re seeing weaknesses in our economy, have to do with state and local government — oftentimes, cuts initiated by governors or mayors who are not getting the kind of help that they have in the past from the federal government and who don’t have the same kind of flexibility as the federal government in dealing with fewer revenues coming in.”
It’s amazing to me that people still buy this idea that economic growth and prosperity comes from government spending, and not individual endeavor.
Posted on June 9, 2012