President Obama's Jobs Delusion

Yesterday, the President, staying in character, made an outrageous statement about Mitt Romney:  "When some people question why I would challenge his Bain record, the point I've made there in the past is, if you're a head of a large private equity firm or hedge fund, your job is to make money. It's not to create jobs. It's not even to create a successful business - it's to make sure that you're maximizing returns for your investor. Now that's appropriate. That's part of the American way. That's part of the system. But that doesn't necessarily make you qualified to think about the economy as a whole, because as president, my job is to think about the workers. My job is to think about communities, where jobs have been outsourced." Once again, the President demonstrated amply that he is like a fish out of water when it comes to economic affairs.  The community-organizer-in-chief obviously thinks that 'making money' and 'creating jobs' are two unrelated...(Read Full Post)