A few days ago President Barack Obama said that he thinks "the private sector is doing fine." This has to be one of the most boneheaded, stupid, out-of-touch things a President has ever said. It's right up there with George H. W. Bush's "read my lips", Bill Clinton's "it depends on what the meaning of is is", Gerald Ford's "there is no Soviet domination of Eastern Europe", and Jimmy Carter's "I have lusted in my heart many times" for the "dumbest things Presidents have ever said" category.
So is the private sector doing fine? Hardly. Unemployment is still over 8% (for the past 40 months now.) Real take-home pay is down over the past year. After-tax corporate profits dropped for the first time in three years during the first quarter. And on and on.
Candidate Obama was all over John McCain back in September of 2008 when Candidate McCain stated that "the fundamentals of our economy are strong" when in fact they weren't. So Obama deserves all the criticism he's getting now that he's the one who stuck his foot in his mouth.
Mitt Romney was quick to pounce, saying that Obama doesn't have a clue how to jumpstart an economy, and that it's the Obama agenda that is the problem in the first place. (He's right.)
Obama believes that the solution to high unemployment is "state and local governments" hiring more people. So let's get this straight. After the federal government spent nearly a trillion dollars on his so-called economic stimulus package and added so much to our national debt, Obama's solution is for state and local governments to follow his example and put themselves in hock the same way he has the federal government. Where will this insanity end?
With us all in the poor house, that's where. You can't keep running up debt at such unprecedented levels and figure that someone else will pay for it, someday. That's how Greece got where it is today.
It's pretty clear that this President has no idea how to get us out of the economic mess we're in. His policies have been a disaster. And his recent revelation that he thinks "the private sector is doing fine" shows that he is so out-of-touch with current economic reality that there's really no hope as long he's in charge.
Fortunately, the American people will have the opportunity to change the disastrous course the Obama Administration has set for our country this November (the 6th of November to be exact.) It can't come soon enough.