Obama's Policies vs. Free Enterprise

Obama's Policies vs. Free Enterprise Perhaps the most intriguing moment of the second presidential debate came late in the contest when a rock-ribbed undecided voter asked both candidates, "What do you believe is the biggest misperception that the American people have about you as a man and a candidate?" And really, this is the sort of compelling inquiry that makes these contrived town hall-style debates so worthwhile. President Barack Obama began his answer with a strong statement: "I believe that the free enterprise system is the greatest engine of prosperity the world's ever known." I have no doubt that Obama believes he believes in free enterprise -- except in the case of health care policy, the auto industry, the housing market, education, banking, job creation, manufacturing, green energy and so on and so forth. Basically, the genius of free enterprise must never be applied to anything that's too important in our lives. When it is, naturally, it must be applied "fairly." But it's fair to say that undecideds -- as is their nature -- may have been confused. After all, someone who deems the free enterprise system the greatest engine of prosperity ever in the galaxy typically wouldn't spend four years arguing that job creation springs from government spending. And granted, not many true believers of capitalism -- our president excluded -- denigrate profit motives and wealth with such elan. If you believed the free enterprise system is the mechanism of great prosperity, your crowning achievement might not be legislation that constricts competition in health care, layers it generously with regulations, institutes effective price controls, coerces participation and sets up a government board to mete out advice on rationing. Put it this way: Folks who admire free enterprise seldom spend two months bashing private equity to kick off a re-election campaign for president.