Wednesday, July 24, 2013

A speech that worth the teleprompter it's written on

The Economic Speech the President Ought to Give
(I)nstead of sparking growth, the rich got richer and the poor got poorer, and my policies produced the worst recovery since the Great Depression. Yes, the economy is finally growing, but at an agonizingly slow pace.
Had my policies managed to produce a merely average recovery, the economy would be $1.2 trillion — that's trillion with a "t" — bigger today. And 7.6 million more people would have jobs.
Instead of bottom-up prosperity, my policies produced the exact opposite — with gains at the top, but ongoing misery everywhere else.
The stock market has climbed and corporate profits are up. But median family income fell more during my recovery than it did during the recession itself. There are 2.7 million more people in poverty and 14 million more on food stamps.
On top of all this, over the past four years I've repeatedly witnessed the dead end of my vision for activist government — from the economic collapse of Greece to the bankruptcy of Detroit.
I now realize that had I put more faith in the free market, in the genius of the American people to solve problems on their own, rather than in Washington politicians and bureaucrats, we'd be in a far, far better place today.
So I'm no longer clinging blindly to the ideology I espoused on this spot eight years ago in hopes that someday, somehow, it will work as I'd hoped.