President Obama References You in his 1st Press Conference

I Want You To See My Huge Stimulus Package Button by Libertymaniacs

You might have seen President Obama's first official press conference, where he attempted to make the case for his huge stimulus package that will be worked through conference committee shortly.  If Not, here's the transcript.

Unsurprisingly, Obama used his bully pulpit to argue for government action to fix the economy.  (An oxymoron indeed.)  Hey tried to use the Ad Populum fallacy to make the case that all economists agree that massive government spending is necessary to climb out of the recession.



At one point even saying:

There is no disagreement that we need action by our government, a recovery plan that will help to jumpstart the economy.

This was quickly followed up on by the Cato Institute, who posted a petition of distinguished economists across the nation who disagree.

For those who might quibble with using government debt to place generations in arrears to blindly attempt to thwart the inevitable and quite natural reorganization of capital and labor we call a recession after one of the greatest inflationary booms in human history, the President's talk was an eye-roller. 

What I thought most interesting, however--as the droll, Keynesian falderol was to be expected--was that President Obama made reference to the Freedom Movement! 

You have some people, very sincere, who philosophically just think the government has no business interfering in the marketplace.

And the again!

And in fact there are several who have suggested that FDR was wrong to intervene back in the New Deal. They're fighting battles that I thought were resolved a pretty long time ago.

 Well, Barack, if you thought that those battles were resolved, then your understanding of the philosophical traditions of economic thought have an exceptionally narrow breadth.

Nonetheless, we must be making some waves if Obama made reference of us.