In Pursuit of Failed Theories

J.D. Foster /

President Barack Obama in an op-ed published in the Washington Post makes several valid points. But the most important is his statement dismissing plans that “echo the failed theories that helped lead us into this crisis.” He’s absolutely right. Failed theories such as:

Successful theories, on the other hand, rely on the wisdom, energy and industry of individuals and businesses, not the heavy hand of government. Successful theories involve lower tax rates, less government spending, less regulation, and freer trade, policies that allow Americans to make the most of the opportunities before them and grow the economy in the process.

The President began his op-ed saying the economic crisis is “deep and dire,” and that Americans expect from swift, bold and wise action from Washington. Right on all counts. And he concludes by saying “we have a choice to make. We can once again let Washington’s bad habits stand in the way of progress….Or we can put good ideas ahead of old ideological battles…” Unfortunately, the President has taken the road of failed policies and Washington’s bad habits. But his presidency is still new. There is still time to hope for change.