“The president and his team seem to think that the idea of creating wealth is unrelated to creating jobs,” Hume said. “Every business person who runs a hamburger stand understands you are trying to make a profit, and that the business of making a profit has jobs as a bi-product. Not as if there is a favorite industry called ‘Jobs R Us,’ which is in the business for the purpose of creating jobs.”If you ask most liberals why corporations and other businesses exist, a surprising number of them will tell you they exist to provide jobs. Not true. Nobody every started a business with the plan to create jobs for others - they start businesses to create jobs for themselves. If they're successful their business will grow and they can add employees along the way. But no one is going to add employees just for the sake of adding employees, and no business should ever feel obligated or pressured by government to add people they can't afford or justify in their business plan.
Hume went on to explain why that “disconnect” calls into question Obama’s grasp of the economy.
“That isn’t how it works, and I think it makes the president sound to people who are not deeply sophisticated about Wall Street like he doesn’t get how the whole system works,” he continued. “I think it may in fact be true that he doesn’t get how the whole system works.”
Tuesday, May 29, 2012
Brit Hume looks at Obama's apparent lack of understanding at how the economy actually works:
Posted by Rick Moore on 5/29/2012