"Barack Obama's routine use of the traditional private-economy term "investment"—in energy, education and such—is the public economy claiming capital for its needs."...So far Romney hasn't strongly staked his claim for what's left of the sucker-punched opposing side.
7/25/12, "Henninger: America's Two Economies," Wall St. Journal, Daniel Henninger, "With Barack Obama, the competition between the private economy and the public economy is clear."
"For a long time, the United States had one economy. Now we have two economies that compete for America's wealth: A private economy and a public economy. The 2012 election will decide which will be subordinate to the other.
- One economy will lead.
- The other will follow. ...
Until recently and except for the Reagan years, the Republican Party has largely been a confused onlooker, uncertain how to embrace the private economy. In the 1990s, the party embraced the private sector mainly as a source of contributions via K Street lobbyists. In short, crony capitalism.
With the Obama administration, the tensions between the country's two economies clarified. The $831 billion spending bill in 2009 was intended to stimulate hiring of public-sector workforces but also among the satellite businesses that are subsidiaries of the public economy. Barack Obama's routine use of the traditional private-economy term "investment"—in energy, education and such—is the public economy claiming capital for its needs.
President Obama is telling the private economy it must subordinate itself"....
- [Ed. note: Translation: slavery.]
(continuing, Daniel Henninger]: "to the public economy's moral efficacy. The passage in 2010 of the Affordable Care Act, with no Republican support, was justified as a 1960s-type act of moral necessity. The private economy, in his view, can't compete on that basis.
In the November 2010 elections, the private economy pushed back. Two years into the financial crisis and amid tea-party insurgencies, Democrats were swept out of office at every level of government.These are not small events. Powerful belief systems are in motion today, and they are slamming into each other....
President Obama is telling the private economy it must subordinate itself to the public economy's moral efficacy. The passage in 2010 of the Affordable Care Act, with no Republican support, was justified as a 1960s-type act of moral necessity. The private economy, in his view, can't compete on that basis.
- One expects that in time Mitt Romney will seek a mandate equal to Mr. Obama's."
Ed. note: Closing a few federal agencies, cutting back on conventions, porn viewing, outright theft, and the like would solve most of the money problems. Mr. Henninger looks at the bigger picture which is the killing of individual incentive, the reason for our success. Both political parties allowed it to happen. Obama has never worked in the private sector, never taken a big risk, yet has been around the world's richest people most of his life. Obama believes completely in his moral superiority, that the half of us who pay taxes are his slaves. We exist to serve him. To the left and the political class, the US no longer exists anyway. It will take awhile for today's entire population aged 50+ to die off, but that's what they're all waiting for. They'll have smooth sailing then. I heard a guy on NPR recently fuming about private sector businesses. He fumed that the private sector didn't understand that the public sector simply had important needs for the private sector's money. Despite massive fraud, complete lack of accountability, that no one ever gets fired in the public sector, etc., this guy thought he and his pals knew it all, were entitled to everything.