Obama’s Great Economic Lie

Ben Shapiro is a Senior Shillman Journalism Fellow at the David Horowitz Freedom Center and Editor-in-Chief of TruthRevolt.org. He is the author of the new book "The People vs. Barack Obama: The Criminal Case Against the Obama Administration" (Threshold Editions).


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This is the smartest man ever to occupy the Oval Office?

Let’s analyze. What makes us weak, he explained, is when we can’t afford to buy products. This is idiotic. We can always afford to buy products unless we are completely impoverished. The question is which products we can afford to buy. If we could not afford to buy products, the prices would drop until they reach the level at which we can afford to buy them. This is why when markets go down, deflation occurs.

As for risk-taking, the real problem with risk-taking is not the risk of failure – risk-takers try and fail and try again. The real problem is unpredictability of regulatory regime. Sure, we are more risk averse when times are bad. But that’s not solved by handing out money to poor people. That’s solved by allowing banks the freedom to loan – which requires people to save their money in banks. The market solves these problems if left to its own devices. Obama won’t leave the market to its own devices.

Obama believes that prosperity comes from the bottom up. Have you ever been hired by someone poor? No? Join the other people who have worked for a living. People who hire are people who are successful financially. Those who are poor can’t afford to hire workers. They are trying to live day to day. Taxing a rich man $10,000 to give $2,000 to a poor man, the rest being eaten up by government bureaucracy, is a rotten deal.

This is basic Marxism. It assumes that because people in the lower economic rungs work hard and work long hours, they produce inordinate wealth. They do not. Specialized skill sets produce wealth. Providing goods and services to a willing market, and finding innovative ways to do so – that produces wealth. Wealth is always trickle-down; wealthy people are wealthy because they are good at making money. If poor people were good at making money, they wouldn’t be poor – and that’s why many poor people become wealthy. No poor man becomes wealthy by simply picking up a government paycheck.

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  • Gamaliel

    If what makes us weak is that we can't buy products than the logic that in order to make us strong the government should print and borrow money and give it to everyone logically follows. Since that is absurd the premise it is based on is absurd

  • Abisja

    Obama's economic lie, or for that matter the lie of planet earth. I'm not American, just a concerned person about what is going in in the world. The US spends trillions(NASA) on space research and travelling into space. When will someone be bold enough to admit that this is just money spent on totally unachievable objectives. Why are ordinary folk not told that just to circumnavigate our own galaxy(at the speed of light -IMPOSSIBLE), will take 250 000y – so why does NASA waste all this money. Use that money to develop alternative fuels – and then you will be able to kick every oil producing ME country in the behind. Sure we need space tech for communication systems, but to find ET – sorry, he/she is not out there

    • aspacia

      Abisja,

      O destroyed NASA with a huge loss in scientific development for the USA. NASA research has provided numerous products: Tang, Velcro, etc., and given us a more in depth understand of the universe via Hubble. NASA was never meant to locate ET. You logic leads me to believe that you do not support scientific research.

      O has provided millions for alternative energy research, and bankrolled failed green energy companies. Companies are researching as well, and when a viable sources comes along, they will develop it, until then we need to drill.

    • mike

      Abisja, NASA is sadly one of the VERY FEW government agencies in America that has ever paid for itself…..possibly the only one thats produced anything of real long term value. Most US agencies are an endless money pit…..NASA is one of the few thats actually shown a return.

      Most of the amazing technology we have in the world today can be traced back to NASA or to its counterparts in other nations. Advances in science….health care….well, pretty much everything…can be traced back to the space programs. I am ALL FOR giving money to these programs, as I know they will eventually pay off, and in a big way.

  • Gamaliel

    Obama is hurting the poor with his inflationary policies. How does he think the high price of gas affects the poor? What about the price of meat that has increased steadily during his administration? What does he thinking the skyrocketing debt under his administration will do to America's ability to help the poor? He is an economic disaster.

    • johnnywoods

      Obummer does not care about the poor. He hates the U.S. and is trying intentionally to our economy. He is so arrogant that he thinks he can rebuild it to his specifications and everything will be better. He is that stupid.

  • Rifleman

    “where a shrinking number of people are doing really, really well, but a growing number are struggling to get by,” – hussein. He left himself wide open there, because that's a glaring and accurate description of his own obamaconomy.

  • Abisja

    Just look at the "Pied Pier" face of this man – he is leading your once great country and Western values and civilization into oblivion. Think – America – THINK! Rid yourselves of this menace at the ballot in November; the rest of right thinking civilization is waiting in anticipation. You either stand up for truth and live, or believe the socialistic lies and go under. May GOD help you in this, almost final hour!

  • Ronald Johnston

    osama obama knows exactly what he is doing. He is a terrorist pervert planted here by our enemies!!!

    • mike

      Terrorist? No….I dont think he is a terrorist planted by our enemies….but he is definitely the direct product of a long list of communist programs enemies of American have undertaken here and abroad.

  • Whatsinaname

    Looking at the picture of Obama for this article I am struck by the face of a man who from 18 yrs on was told he was brilliant (when he wasn't) virtuous (when he wasn't), articulate (when he wasn't), and beloved by all (when he wasn't and certainly isn't). Now this quintessential emperor with no clothes finds himself in a mess wondering why his handlers never told him the job would be so difficult. The poor King is frustrated with his subjects — apparently not all of them see his brilliance, kindness, wisdom, etc. Who knows, one day he may look into the mirror and see he is nothing but the personification of mediocrity with an accute case of inflated ego and narcissism.

  • crypticguise

    Obama is an economic MORON. What else would you think of someone who constantly spouts socialist-Marxist baloney. What is amaizing is that today the latest Rasussen Poll shows that Romney wins only 43% of Independents versus 37 % for Obama. What this proves to me is our nation is full of eonomic illiterates.

  • Arturo

    Obama's ratings are in the pits; his teleprompter is on the fritz.