Last night on Bill O'Reilly, Juan Williams attempted to defend Obama's remarks saying the Private sector is doing fine. First of O'Reilly is correct, the unemployed workers are part of that private sector. However, even more important is small businesses. Juan attempted to tell the viewers that Obama's remarks were in line with wall Street profits. The problem is that Wall Street is not main street. The engine of the economy is small business and consumers. Small businesses are not doing fine. Small businesses are not hiring. The consumer is scared and spending money on paying for the "thingamagics" that were already purchased.
Now I understand liberals believe that government workers will spend money in small businesses that will help them grow. I understand they believe in a multiplier effect, meaning that a government dollar spent yields more than a dollar in returns. The problem is this is unproven and I would venture a guess that an ineeficient government that can't be run like a business has a hard time yielding more output than what is input. If that were the case than government should confiscate all of the wealth and then spread it all back out. The problem is that has been tried and all that happens is everyone becomes poor with the exception of the ruling class. Just take a look at North Korea, the Soviet Union or even CHina prior to capitalism there.
We need the private sector to be robust and growing. Since this recession started we are still over 4 million jobs short of where we were at prior to the recession. So in 4 years we haven't even got back to the starting blocks. The public sector on the other hand has grown in jobs. We have increased public expeditures and increased our debt to levels not seen since WWII yet the liberals still believe the public sector is the little engine the could. The facts say the private sector must lead the way. The facts say the private sector is still in dire straights. In the case of "the private sector is doing fine", this is not a gaffe. This is what liberals truly believe. Liberals do not believe in the private sector or they believe that the private sector is Wall Street. Obama's statement says more about what he believes is middle class and what believes is main street than his liberal friends want to let out of the bag. See main street America is more than the working poor. Main Street America is more than Wall Street. Main Street America is more than the political class. Main Street America are our family, friends, and neighbors. Main Street America is the Union worker, the Store Clerk, the factory worker, the construction worker, the plumber, the mortician, the small business owner, the resturant worker, the miner, the oil rig worker. The President doesn't understand that he is Presidnet of all the people rahter than President of the 50% +1. Jaun has to realize that the private sector is much more than Wall Street. Wall Street is in the Private sector, not the private sector. The little engine that could is the private sector and until liberals like Obama and Juan Willimas realize that our economy will remian in the doldrums.