Speaking in Pittsburgh this week, President Obama said:
“To be fair, a good deal of the other party's opposition to our agenda has also been rooted in their sincere and fundamental belief about the role of government," Mr. Obama said. "It's a belief that government has little or no role to play in helping this nation meet our collective challenges."
I’m relieved that President Obama at least acknowledges that our belief in limited government is sincere. I do believe that the government has little or no role to play in most of life. Government addressing “collective challenges” has done far more harm than good.
The President went on to suggest that a lack of regulations is the reason for many of our country’s problems.
"If you're a Wall Street bank or an insurance company or an oil company," he said, "you pretty much get to play by your own rules, regardless of the consequences for everybody else."
Nonsense. The ruthless competition of a free market forces businesses to serve consumers well nearly all the time. Today’s WSJ editorial page also has this response to Obama’s comment.
“The claim that the financial, energy and health-care industries were somehow unregulated until Mr. Obama descended from the heavens is simply dishonest. Those are likely the three most regulated businesses in America.”
The Journal correctly points out that Obama’s lofty claims about the benefits of regulation can come back to bite him.
They reinforce the myth of the magic politician.
“He shouldn't be surprised if voters come to believe that his super-regulatory government should be able to perform miracles like quickly plugging oil blowouts a mile under the sea.”