Obama's arrogant conceit

Obama has no real wealth to inject into the economy. He can only move around existing money while inflation robs us of purchasing power. Meanwhile, private investors who might have produced a better engine, battery, computer, cancer treatment or other wealth-creating and life-enhancing innovations, hold back for fear that big government will undermine productive efforts.

The way to a lasting recovery is to greatly lighten the burdens of government. Then free Americans will save and invest.

Grand interventionist reforms go in precisely the wrong direction.