Sunday, July 26, 2009

Fred Barnes wonders if our president is an economic illiterate

In the latest issue of The Weekly Standard he asks the question. Then goes on to answer it.
Is President Obama an economic illiterate? Harsh as that sounds, there's growing evidence he understands little about economics and even less about economic growth or job creation. Yet, as we saw at last week's presidential press conference, he's undeterred from holding forth, with seeming confidence, on economic issues.

Obama professes to believe in free market economics. But no one expects his policies to reflect the unfettered capitalism of a Milton Friedman. That's too much to ask. Demonstrating a passing acquaintance with free market ideas and how they might be used to fight the recession--that's not too much to ask. But the president talks as if free market solutions are nonexistent, and in his mind they may be. Three weeks after taking office, he said only government "has the
resources to jolt our economy back into life." He hasn't retreated, in words or policies, from that view. Read the whole thing.

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