Obama's Economic View

Daniel Henninger sums up Obama's philosophy on the U.S. economy with a quote from the man at yesterday's Business Roundtable:

"For the better part of three decades (my emphasis), a disproportionate share of the nation's wealth has been accumulated by the wealthy. Technological advances and growing global competition, while transforming whole industries—and birthing new ones—has accentuated the trend toward rising inequality."

For this reason, says Obama, the entire economy has to be taken over and guided by him and his cronies. Hmmm....some people think that growing the U.S. GDP from $2.8 trillion to $14.6 trillion during that 30-year time period was pretty darn good.