When Obama Rejects Government Intervention and Says It Is Better to “Let the Market Work on Its Own,” You Need to Read the Fine Print

Earth to Obama over?
The CATO Institute

Back in 2009, I got very excited when President Obama stated, “No business wants to invest in a place where the government skims 20 percent off the top.”

Did that mean he wanted to reduce America’s punitive and anti-competitive corporate tax burden? Or maybe even fix the entire tax code and install a simple and fair flat tax?

“Free market for thee, not for me”

Unfortunately, it turns out the President was speaking to the Parliament of Ghana and apparently his recommendation for good policy didn’t apply inside the United States.

With this in mind, I’m not sure whether I should get too excited about his remarks yesterday that it is better to “let the market work on its own.”

Here are a few reasons why I am less than enthusiastic about this remarkable statement.

The President was not talking about solving the problem of government-caused third-party payer in health care.

Nor was he urging the elimination of the culture of bailouts and cronyism in the financial services sector.

And he obviously wasn’t saying it was time to end the government’s failed school monopoly.


Instead, when he said that we should “let the market work on its own,” he was referring to the very narrow issue of China’s production and distribution of certain minerals.

In other words, if presidential statements came with asterisks, the fine print at the bottom of the page would read “offer good in China only.”

However, a journey of a thousand miles begins with a first step. So if he thinks it’s a good idea to reduce government intervention in China, maybe someday he will apply the same wisdom to the American economy.

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4 thoughts on “When Obama Rejects Government Intervention and Says It Is Better to “Let the Market Work on Its Own,” You Need to Read the Fine Print

  1. Forked tongues come to mind…
    When their lips are movin’ they be lying…

  2. Well, you can take this to the bank! He somehow managed to apologize about us.
    He somehow or in some way stabbed us in the back while kissin’ the ass of anyone he can have attention from
    He is NOT respected in other countries. I know because I blog on the UK site as well as two sites in Israel.

  3. Obama gets worse as the days get longer.. He seem like hes working against the USA and not for it and if the ppl of the USA cant see it them we will all suffer for it if they get him in again. He and the comgress are the most scary government in the word today…

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