President Obama is optimistic that “We will rebuild, we will recover, and the United States of America will emerge stronger than before.” That and $5 will get you coffee at Starbucks — until inflation kicks in.
In his appearance before Congress, Obama demonstrated he can give a speech. Big deal. We already knew that. Theatrics aside, why does it matter that the president is optimistic? He shows no sign of understanding economics. He’s the one, after all, who proposes to borrow $800 billion in the credit market so he can “inject” it into the economy where he found it. That doesn’t show much understanding. So on what does he base his optimism?
The rest of my latest op-ed, "Obama's Uninformed Optimism," is at The Future of Freedom Foundation website.