President Obama’s Market Economics

There are a lot of commentators accusing the President of not believing in the use of markets to distribute goods and services. This is completely wrong. President Obama has taken the initiative to create a market for incompetence. Nearly $200 billion of his War on Prosperity bill will spent on rewarding state and local governments for mismanagement of the public trust and today (Wednesday), the President has announced a $275 billion  reward for consumers who have made bad mortgage decisions.

Creating a nearly $500 billion market for ignorance must be historic by some standard.


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