Last Wednesday brought a comical chapter in recent political history as President Obama delivered a speech centered on the economy. In a Reuters article, it was mentioned that his address aimed to generate momentum for his economic and domestic policy initiatives.
However, the outcome was quite the opposite, serving as a reminder of the comedic flair that President Obama possesses rather than any serious economic insight.
While there have been worse or less intelligent presidents, none has matched the sheer humor he brings to his role.
An initial glance at the president elicits a chuckle. Yet, it’s when he speaks that we often find ourselves doubled over in laughter, eagerly anticipating punchlines that never materialize.
His eloquent presentation conceals a chasm of substance that leads to a humorous blend reminiscent of a seasoned comedian. The result can be downright hilarious, especially when he addresses economic issues.
Obama’s Plan to Save the Middle Class
Fortunately, we can expect more entertaining moments in the weeks ahead, as Obama unveils his plan to aid the middle class.
“In the upcoming weeks,” Obama stated, “I will be engaging with the American people across towns in this country, presenting my ideas on what it means to build and sustain a middle-class life in America.”
He outlined essential elements for achieving this, such as:
- Job security with fair wages and sustainable industries.
- A quality education.
- A home to call your own.
- Affordable healthcare when you’re unwell.
- A secure retirement even without wealth.
- Reducing poverty and inequality while fostering opportunity.
While these aspirations resonate well, they largely rely on individual effort rather than government intervention. Nonetheless, Obama went on to detail his mission to support the middle class.
“I will reach out to CEOs, philanthropists, college presidents, and labor leaders,” he declared, “and enlist their help in our efforts.”
Guided By the Heavy Hand of Government
Unfortunately, Obama didn’t specify what he would communicate to these figures. Would he suggest that CEOs hire your nephew? Or ask college presidents to lower tuition costs?
What about philanthropists—should they contribute to your retirement funds? Should labor leaders unite to increase coffee breaks and vacation days?
The underlying humor is hard to miss. Obama seems to believe that if he can persuade others to act, the economic issues will magically resolve themselves. In doing so, he overlooks the fundamental mechanics of free markets and the economy, resulting in some rather ludicrous statements.
It seems that Obama never grasped that it is through voluntary exchange and individual ambitions that people fulfill their needs. As Adam Smith aptly noted in The Wealth of Nations, “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.”
In Obama’s perspective, this system requires improvement. Fast forward to 2013, the economy is anything but free. Markets are not driven by the proverbial ‘invisible hand’ but instead are heavily influenced by government intervention.
This overreach has ultimately led the middle class down a troubling path.
Sincerely,
MN Gordon
for Economic Prism
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