Will the ironies never cease? President Barack Hussein Obama, the king of central planners and an avowed socialist, told people at a campaign rally held on June 22, at Hillsborough Community College in Tampa, that, “We don’t need more top-down economics. What we need is some middle class-out economics, some bottom-up economics.” He actually said that! Here is proof, once again, that Obama will say anything, even contradict himself, in order to get votes.
But before we can examine what Obama is saying, we must understand what he means when he says top down. Some insight into his thinking (or should I say Teleprompter reading) can bein recent speeches. For example, on the same day,June 22, speaking at the National Association of Latino Elected and Appointed Officials (NALEO) Annual Conference, he said:
They [Republicans] believe the best way to grow the economy is from the top down. So they want to roll back regulations, and give insurance companies and credit card companies and mortgage lenders even more power to do as they please.
In another speech, at Cuyahoga Community College in Cleveland, Ohio, on June 14, Obama said:
… the theory that the best way to grow the economy is from the top down. So they maintain that if we eliminate most regulations, if we cut taxes by trillions of dollars, if we strip down government to national security and a few other basic functions, then the power of businesses to create jobs and prosperity will be unleashed, and that will automatically benefit us all.
I know this will come as a shock to Obama (and his Teleprompter speech writers), but government mandates and central planning are the ultimate “top down” way to run things. Central planning, top down economics, refers to planning as a means of social engineering in order to manipulate economics in order to achieve the desired outcome.
- Czars – he has appointed 32 (or more) czars to oversee all aspects of the economy, including one who is an avowed communist.
- Healthcare – he has decided that everyone should have healthcare, and has mandated that we all pay for it.
- Green energy – he has decided that green, or renewable energy, is to be thrust upon us, regardless of cost.
- Stimulus – he crammed the economic stimulus down our throats, then joked that shovel ready projects weren’t so shovel ready.
- We Can’t Wait – his effort to bypass the US Congress (and therefore the US Constitution) gave us this phrase.
These are all forms of intervention, of central planning, of top down economics. They try to manipulate outcomes from what they would have been had they been left alone.
So I guess that ultimately what Obama said was not contradicting himself. I guess his view of economics has evolved to the point where he doesn’t really know what he’s saying, just reading words from his ever-present Teleprompter. He had better get a new teleprompter speech writer: one who knows economics.
But that’s just my opinion.