John Ransom

As Obama kicks off his “You're Too Stupid to Understand” campaign tour, I’d like to make the following observation as a public service reminder: It's not that Obama started believing his press clippings; it's that Obama never for a moment doubted his press clippings.

Generally, buying into the fables that the press tells about you-- both good and bad-- is a loser's proposition, especially in politics.

Because when reality bumps up against the storyline, the storyline is unsustainable.

The government lied about Vietnam.

Bill Clinton lied about the Bible: oral sex, it turns out, is still sex.

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We’re losing the war on terror.

And finally, Obama is neither the great genius, constitutional lawgiver and Savior of the Democrats nor is he the maniacal mastermind of socialist America, the lead miner and sapper of capitalism.

The truth is that Barack Obama is a middling politician, with an outsized ego-- just like most of them—who has very little experience in the real world and the unfortunate disadvantage of having a static worldview.

When reality bumps up against his worldview, say goodbye to reality.

Sure, the dude's a socialist.

But that's not his defining personal characteristic.

His defining personal characteristic is incompetence, combined with a self-centeredness that prevents him from seeing past his own navel.

John Ransom

John Ransom is the Finance Editor for Townhall Finance, host of Ransom Notes Radio and you can catch more of the best money advice and monetary commentary by him daily 10am PT, 1pm ET at or on Comcast Cable