Proof our president is an economic illiterate | Eastern NC Now

    Publisher's Note: This article originally appeared in the Beaufort Observer It just can't be said too often just how pathetic this president is.

    "You can't lower rates and raise revenue, unless you're getting revenue from someplace else."

    Proof that we have an economic illiterate for President of the United States was clearly demonstrated Sunday night (12-12-11) on 60 Minutes when Steve Croft interviewed Barack Obama. Among other idiotic things he said, Obama said:

   KROFT: Well, they (Republicans) say they're ready to do it. They say it's your insistence on raising the taxes to the wealthiest Americans, that you're fixated on that. And that there are other ways to raise revenue.

    PRESIDENT OBAMA: Steve, the math is the math. You can't lower rates and raise revenue, unless you're getting revenue from someplace else. Now, either it's coming from middle-class families or poor families or it's coming from folks like you and me that can afford to pay a little more. I mean, I think the average American understands that.

    We trust that our readers don't need an explanation of how utterly stupid that statement is, but if you want to hear what Don Boudreaux had to say on Café Hayek click here. The article contains a link to the 60 Minutes story, which includes links to video of the interview.

    If we were trying to explain to a ten-year old why they would be better to try to sell lemonade at fifty cents per cup rather than fifty dollars per cup we would have a bit more patience. But for the President of the United States to make such a statement...to believe such nonsense...is simply astounding.

    We realize and readily admit we are not the sharpest knife in the drawer but the fact that this man could make such a statement in a formal interview (presuming he was being careful about what he said) is utterly amazing.

    Is it any wonder our economy is in shambles?

    And remember, this is The One we were told we were waiting for.

    But imagine if George Bush had said the same thing what the media would have done.

    Barack Obama is the biggest scam that has ever been run on the American people.