There is a certain crowd in Washington who, for the last few decades, have said, let’s respond to this economic challenge with the same old tune. “The market will take care of everything,” they tell us. If we just cut more regulations and cut more taxes–especially for the wealthy–our economy will grow stronger. Sure, they say, there will be winners and losers. But if the winners do really well, then jobs and prosperity will eventually trickle down to everybody else. And, they argue, even if prosperity doesn’t trickle down, well, that’s the price of liberty.
Now, it’s a simple theory. And we have to admit, it’s one that speaks to our rugged individualism and our healthy skepticism of too much government. That’s in America’s DNA. And that theory fits well on a bumper sticker. (Laughter.) But here’s the problem: It doesn’t work. It has never worked. (Applause.) It didn’t work when it was tried in the decade before the Great Depression. It’s not what led to the incredible postwar booms of the ’50s and ’60s. And it didn’t work when we tried it during the last decade. (Applause.) I mean, understand, it’s not as if we haven’t tried this theory.
It’s the usual Obama campaign speech (the only kind he gives, the man doesn’t do thoughtful), unnamed enemies (“a certain crowd”), strawman arguments (“the market will take care of everything”), mixed in with blatant falsehoods, (“we tried cutting taxes and reducing regulation, and it didn’t work”). It’s a candyfloss of lies, class warfare, and demagoguery but this is what Obamacrats actually believe. In fact, his crowd of mindless drones lapped it up like an MSDNC panel of Melissa Harris-Perry clones.
And all of it has no more truth or substance than their rumor that Mitt Romney would outlaw tampons. But the low-information voters that have turned the USA into a statist Idiocracy lap it up.
Obama really believes this inanity too, and it drives his policies of massively increased regulation, tax increases, and welfare expansion.