Bret Stephens writes in the Wall Street Journal Obama’s Envy Problem.

Excerpts:

The moral greatness of capitalism rests in the fact that it is the only economic system where one person’s gain can be another’s also—where Steve Jobs‘s billions are his shareholders’ thousands. Capitalism cultivates a sense of admiration where envy would otherwise rule in a zero-sum economic system. It’s what, for the past 60 years, has blunted the democratic tendency toward envy in the U.S. and distinguished its free-market democracy from the social democracies of Europe. It’s what draws people to this country.

Somewhere in the rubble of Mr. Obama’s musings on inequality there was a better speech on economic mobility. Then again, under Mr. Obama the median income of the poorest Americans has declined in absolute terms, to $11,490 in 2012 from $11,552 in 2009, at the height of the recession. Chalk it up as another instance of Mr. Obama being the cause of the very problems he aspires to address.

HKO

It is worth noting that the demons Obama campaigned against are doing better and the constituency he proposed to help are doing worse,  unless you are an organized special interest like the unions.  The poor get federal programs and the very rich get access. The middle class bears the brunt of the misguided policies.    Average household income is down through this “recovery”.

Instead of seeing the fundamental flaw in his governing philosophy he doubles down on rhetoric.  Rhetoric is important to get elected but will not suffice as results from governing.

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