Obama proves he’s the master of class warfare. He is a very ideological man ...

Our ideological president

Obama ups the partisanship with a class-warfare speech

At a fundraiser in Seattle on the day before Thanksgiving, President Obama told a group of Democratic donors, apparently without a hint of irony, “I’m not a particularly ideological person.” One wouldn’t know it from the ponderous 48-minute oration on income inequality that he delivered in Washington on Wednesday.

Mr. Obama devoted the majority of it to the cause of lamenting a “dangerous and growing inequality and lack of upward mobility” that he says is jeopardizing the middle class. The unraveling of the “social compact,” he said, began in the late ‘70s. “The result is an economy that’s become profoundly unequal, and families that are more insecure,” he said, blaming “a trickle-down ideology” in which “taxes were slashed for the wealthiest, while investments in things that make us all richer, like schools and infrastructure, were allowed to wither.”

The barbed words were aimed squarely at the memory of Ronald Reagan, who presided over a massive economic expansion that increased prosperity for rich and poor alike. Mr. Obama did acknowledge the concept of a free-market economy. “We don’t promise equal outcomes,” he said, and success “depends on effort and merit.” He even mentioned that “we’ve never begrudged success in America.” It’s clear from the president’s remarks, however, that he lacks Reagan’s faith in Americans working through charities and through the market to solve societal problems.

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Owning the means of counterproduction

Obama proves he’s the master of class warfare

President Obama made another futile stab at his long-suffering, sluggish economy this week, but he still doesn’t understand why it’s not getting any better.

He didn’t address the lack of sufficient capital investment in a job-challenged economy or the tax incentives needed to get it running at full throttle to boost stronger economic growth and full employment.

He didn’t sound a clarion call to expand new business formation and encourage risk-takers who will put up their capital to launch new job-creating enterprises. It’s one of the hot topics in the economic community right now, but not in the Obama White House.

“There is an investment dearth,” complains Martin Wolf, chief economic analyst for The Financial Times.

Indeed, Mr. Obama didn’t discuss “economic growth” ideas in any meaningful way, and avoided any specific mention of the underlying illnesses that plague our economy: high unemployment, 11 million Americans out of work, and an undernourished economic-growth rate.

Instead, he talked about the dire social symptoms of his weak economy: “income inequality,” higher poverty rates, and the “daily battles to make ends meet, to pay for college, buy a home, save for retirement.”

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