Monday, July 18, 2011

Op-Ed: President Obama Doesn’t Know the First Thing About Economics

By Iain Murray

As the Oscar buzz surrounding actress Meryl Streep keeps growing -- thanks to her portrayal of Margaret Thatcher, it’s worth remembering one of the real Iron Lady’s most famous observations: that any housewife could manage the British economy.

President Obama should heed that advice, and realize that economy begins at home. Unfortunately, his recent statements on the economy give little reason for hope on that front.

The president’s press conference on Monday epitomized the “do something” nature of his administration. He wants to do something about … well, everything—from getting more kids into college to fighting global warming (although the latter is less evident these days, at least in public). The trouble is that he thinks he needs more and more of our money to do it, so he wants any budget deal to include tax rises. READ MORE...

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