Saturday, November 9, 2013

The Education of a President

Despite having a degree from Harvard Law School, our President's most expensive educational experience has taken place over the past five years.  Since taking office, the national debt has increased over 57%, and is on track to double under his Presidency.  Trillions of dollars later, our economy is still anemic.  People are leaving the workforce in droves, and seemingly 'giving up'.  Real unemployment is approaching a double digit rate if one were to factor in the amount of people that have left the workforce.  Obama's real legacy thus far is an underemployment rate equivalent to 10% - something unheard of since Jimmy Carter's Presidency of 'malaise'.

One would hope that Obama has learned from his multi-trillion dollar mistakes and will reverse course - however this is not the case.  Perhaps after he has doubled the national debt and the total cost to the American taxpayer is at or near 10 trillion dollars, will Obama realize that his ideas - as well as his ideology in general - are bankrupt.  Government cannot create economic growth.  Government cannot create jobs without destroying the opportunities for other jobs to be created.  Government cannot allocate capital until it has already confiscated that capital from others.  Government cannot allocate funds better than the market, the entrepreneurs, the consumers, and the American people as a whole.

His most recent, and pathetic, attempt to 'apologize' for what will invariably be millions of people losing their health insurance - if not tens of millions of people - has still done nothing to deter his toxic plans to naively dismantle a market that is already heavily regulated and dominated by government players (MediCARE, MedicAID, etc.).  Just as Fannie Mae and Freddie Mac create economic dislocations in the housing market, MediCARE and MedicAID create economic dislocations in the health insurance market.  This does not mean that we are against such safety net programs existing.  On the contrary.  However the consumers (patients) ultimately pay for these programs, hence the expensive price tag.  Adding another poorly conceived plan (ObamaCare) to an already complex system is proving to be catastrophic.

Ben Carson's recents statements on ObamaCare will make most of us uncomfortable.  However others have stated that ObamaCare, and the fact that it was upheld by the U.S. Supreme Court, will forever change the relationship between the individual and government.  ObamaCare stipulates that as a citizen, you must purchase something you may not want nor need.  Some believe that this essentially makes us subjects, and no longer citizens, to an all powerful federal government, and henceforth we are being financially controlled (but certainly not enslaved).  The plan is obviously not economically viable, but it is also a major violation of individual liberty.

Anyone surprised at the outcome of Obama's "health care" plan should have their head examined (that is, if they haven't lost their insurance coverage already).  Hopefully Obama will have learned something from his 10 trillion dollar education.