Politics: Pretty big problem: Obama doesn't have a clue about economics

Published by: Herman Cain on Friday September 7th, 2012

Herman Cain

By HERMAN CAIN - The biggest problem with the economy is that Obama doesn't understand why it's so bad.

President Obama said at the start of his acceptance speech last night that he is a very different man than when he first addressed the Democratic convention as its keynote speaker in 2004. I don’t think he’s really all that different.

He is now, as he was then, a big government, class warfare liberal, who is convinced that the heavy hand of government is the solution to everything. The utter failure of this approach has not convinced him otherwise, because he is a true believer.

He doesn’t understand that 23 million Americans are unemployed because he has flushed taxpayer money down the toilet instead of replacing the tax code and cutting regulations.

He doesn’t understand that we can’t spend our way to prosperity.

He doesn’t understand that you need economic growth to solve our budget and deficit problems, which is why he mocks the idea of cutting taxes to free up capital that can be invested in business growth and wealth creation.

There’s nothing wrong with touting the well-being of the middle class. But there’s a lot wrong with encouraging the middle class to believe they are at war with the wealthy. We heard a lot in Charlotte about everything the government has done to take care of people. We didn’t hear much about people taking care of themselves. That’s gotten a lot harder to do under Obama, and he doesn’t understand the facts as to why.  We do understand, because we are not stupid!