A free market guarantees every man an equal opportunity, not an equal outcome.
Obama told his audience: “I’m here in Kansas to reaffirm my deep conviction that we’re greater together than we are on our own. I believe that this country succeeds when everyone gets a fair shot, when everyone does their fair share, when everyone plays by the same rules.” This is not the description of a free market; the economic system President Obama describes is a “government-managed” market.
The economic system Obama envisions requires someone – the government or its administrator – to define what a “fair shot” is for everyone, to define what constitutes their “fair share” and to set the “same rules” under which everyone must play.
American prosperity has grown in the face of a constant struggle between too much and too little regulation. This struggle must forever be the work of a freely elected legislature and never left to the executive or the bureaucrats appointed by the executive branch.
President Obama says that his opponents – Republicans – suffer from a “collective amnesia, and … want to return to the same practices that got us into this mess.” He never misses a chance to say that lower taxes and less regulation are the policies that got the nation into the economic mess he inherited.
Not so – and he knows it. He just doesn’t want Americans to remember that the fundamental cause for the current economic mess must be laid at the feet of his Democratic predecessors who essentially forced banks to give (sub-prime) mortgages to people who could not afford to repay them. What’s worse, they forced Fannie Mae and Freddie Mac to guarantee these loans so the banks could repackage the bad mortgages as federally guaranteed securities, which were easy to insure and easier to sell.
Sooner or later, these bad loans had to fail. The bubble burst during the last months of the Bush administration, which became an easy target for blame by the Democrats and their rising new star, Barack Hussein Obama.
Freedom cannot exist in Obama’s vision of a managed market and a managed society. Every citizen must decide whether this nation will yield to Obama’s vision, or return to the framer’s vision of a government that exists for the purpose of protecting every citizen’s right to life, liberty and the pursuit of happiness – as defined by every individual – not by the national government.