"Don't Despair! Don't give up! We will reach an agreement with John Galt. We will get him to lead us. He will solve all our problems. He will make things work. Don't give up! We will get John Galt!"
Following the grilling of Ben Bernanke on the government bailouts (based on his Keynesian apologetics), The White House hosted a "job summit" today, featuring Obama's latest speech on "the economy," which is a call to "Stop bitching," put on our "A-game," and "get to work." He claims to be open to "see which ideas work." He said that he doesn't mind skepticism, but...well, let's call it as it is: He's calling for all ideas except for those that will work. Because the ones that work will effectively put him and his Washington cronies out of a job. As the Washington Times reports,Do YOU get the point? If not, compare, once again, Obama's own words:
Missing from a partial list of attendees released by the White House are the self-proclaimed voices of business - the U.S. Chamber of Commerce and the National Federation of Independent Business - both of which have been critical of Mr. Obama's proposed health care overhaul.
Who was there? "Confirmed attendees include liberal economists credited with shaping the $787 billion stimulus package, union leaders, environmental advocates and executives from Google and other blue-chip firms." Which means:
"He's going to get lots of recommendations to spend more money," said Peter Morici, a professor at the University of Maryland's Robert H. Smith School of Business. "These are the very same people who gave us the stimulus package. My feeling is we're not going to get what we need, and that's a complete change in direction on economic policy."
Allow me to illustrate what this means. First, Obama's own words:
I want to be clear: While I believe that the government has a critical role in creating the conditions for economic growth, ultimately, true economic growth is only going to come from the private sector.
Imagine this conversation from Atlas Shrugged, with Barack Obama replacing Mr. Thompson, pleading with John Galt to save "the economy":
Obama: "We said we'll meet your terms, any terms. We meant it..."Galt: "Get out of the way."Obama: "That's impossible! That's fantastic! That's out of the question!"Galt: "You see? I told you we had nothing to discuss."Obama: "Now, wait! Wait! Don't go to extremes! There's always a middle ground. You can't have everything. We aren't...people aren't ready for it. You can't expect us to ditch the machinery of State. We've got to preserve the system. But we're willing to amend it. We'll modify it any way you wish....we'll do anything you say...we'll cooperate. We'll compromise. We'll split fifty-fifty. We'll keep the sphere of politics and give you total power over the sphere of economics. We'll turn the production of the country over to you, we'll make you a present of the entire economy. You'll run it any way you wish, you'll give the orders, you'll issue the directives-and you'll have the organized power of the State at your command to enforce your decisions. We'll stand ready to obey you, all of us, from me on down. In the field of production, we'll do whatever you say. You'll be-you'll be the Economic Dictator of the nation!"Galt: "You want me to be Economic Dictator?"Obama: "Yes!"Galt: "And you'll obey any order I give?"Obama: "Implicitly!"Galt: "Then start by abolishing all income taxes."Obama: "Oh, no!... We couldn't do that! That's...that's not the field of production. That's the field of distribution. How would we pay government employees?"Galt: "Fire your government employees."Obama: "Oh, no! That's politics! That's not economics! You can't interfere with politics! You can't have everything!"Galt: "Want to continue the discussion? Or do you get the point?"
We don't have enough public dollars to fill the hole of private dollars that was created as a consequence of the crisis.
And once again, the reality:
Obama: "I can offer you anything you can ask. Just name it."Galt: "You name it."Obama: "If it's money that you want-you couldn't make in three lifetimes what I can hand over to you in a minute, this minute, cash on the barrel. Want a billion dollars--a cool, neat billion dollars?"Galt: "Which I'll have to produce, for you to give me?"