On Tuesday night’s broadcast of the CBS Evening News, anchor Scott Pelley opened with sobering words:
“This is the worst economic recovery America has ever had. We’ve been looking for hopeful signs, but today the chairman of the Federal Reserve threw a cold splash of reality on those hopes.”
Now someone needs to give President Obama “a cold splash of reality.” With each passing day, he and his team further reveal their fundamental misunderstanding of the economy.
Obama sees everything backward. Where Americans see individual achievement, he sees government’s work. Where we see failing companies, he sees innovation worth subsidizing....