“...Contrary to the claims of some of my critics, and some of the editorial pages, I am an ardent believer in the free market. I believe businesses like yours are the engines of economic growth in this country. You create jobs, you develop new products and cutting-edge technologies, and you create the supply chains that make it possible for small businesses to open their doors…”
Thus did President Barack Obama begin an address last Wednesday to the Business Rountable, the most influential business-based lobbying organization in Washington.
Given that the President has, by his own doing, become a de facto CEO of huge segments of our economy, has hired and fired executives, has imposed salary limitations on corporate leaders, and has spent months claiming to have “saved or created” jobs, it’s likely that there were some skeptics in the audience as he tried to convince the crowd of his respect for the free market. But try, he did, to offer a persuasive argument on this possibility.
And then, less than thirty-six hours later, yet another Obama contradiction popped-up. According to reports Thursday night, the President was considering the use of executive power to essentially “ban” home foreclosures, yet another egregious assault on the very economic system for which he claimed to have oh-so-much respect the day before.
The President’s speech to the Business Roundtable was terrific. And losing one’s home is terrible. Yet when borrowers fail to uphold their debt repayment obligations, private lenders must be free to protect their assets (which is precisely what a mortgage foreclosure is about). To deny lenders this most basic right does a grave injustice to people who have their money invested in banks, and harms our entire economic system.
So why the contradictions from President Obama? Despite his claims about wanting to “create jobs,” his economic policies and proposals seem to have far more to do with consolidating his control over the economy, than they do with growing it. What is causing this tremendous disconnect between his stated objectives, and his actual behavior? And how much longer can the Congress (especially those congressional members who are in the President’s party) continue to ignore Barack Obama’s preferences for control, over growth?
Austin Hill is an Author, Consultant, and Host of "Austin Hill's Big World of Small Business," a syndicated talk show about small business ownership and entrepreneurship. He is Co-Author of the new release "The Virtues Of Capitalism: A Moral Case For Free Markets." , Author of "White House Confidential: The Little Book Of Weird Presidential History," and a frequent guest host for Washington, DC's 105.9 WMAL Talk Radio.
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