Obama's ATM Economics

     President Obama's commentary on the economy has grown so out of touch that we felt it deserved additional discussion.  Here is a quote from our President from a recent interview with NBC:
 
"There are some structural issues with our economy where a lot of businesses have learned to become much more efficient with a lot fewer workers... " 

"You see it when you go to a bank and you use an ATM, you don't go to a bank teller, or you go to the airport and you're using a kiosk instead of checking in at the gate."

     The President actually seems to be suggesting that our unacceptably high unemployment rate is due to our businesses being too efficient.  This mentality speaks volumes about Obama's economic views and how he views job creation.  Rather than embracing innovation, productivity gains and technology as ways to improve our economy and spur job growth, he laments the loss of bank teller positions.  This is the same tired (and wrong-headed) thinking that warned of economic disaster resulting from the industrial revolution, the automobile (goodbye buggy whip makers), computer automation and every technological innovation in between.  Yet time and again, the American workforce has proven its ability to adapt and capitalize on innovation to create jobs and improve standards of living.  

   It is not entirely surprising that Obama does not embrace efficiency and innovation as leading to economic gains.  Innovation and efficiency are the hallmarks of the private sector, an area with which Obama has next to no experience, understanding or esteem.   Consequently he focuses on what he knows and believes in... GOVERNMENT.  Government projects, Government programs and Government spending are the centerpieces of Obamanomics.  If you doubt this, just take a look at our deficits and the number of government jobs created at all levels of government under this administration.  All of this sucks resources out of the private sector, away from innovation  and efficiency and redirects it to government. And what are the hallmarks of government?  Bureaucracy, inefficiency and inertia.  If there had been a government bureau of buggy whips, it would still be with us today! 
     To make matters even worse, this administration has spent trillions of dollars on these government initiatives without paying for them. So now in the name of being "responsible" he will seek tax increases (more of our limited resources being siphoned away from innovation and efficiency toward bureaucracy and inertia).  He'll try to sell this as the "rich paying their fair share" but the result is fewer resources being used to create, innovate, and compete , which is our best hope for better economic times ahead.   Continued innovation and creativity have been the keys to the unprecedented economic success of our country and these are characteristics that government, by its nature, cannot possess.  Sadly we have a leader that does not recognize this and blames our current economic problems on technological advances such as ATM's while stifling future innovation with reckless spending and higher taxes.  A change of leadership is badly needed in 2012.

                                                                                                                 --Hand

"A learned blockhead is a greater blockhead than an ignorant one."
                                                                   --Benjamin Franklin