What the president does and doesn’t understand

Contrary to some reports that the president just doesn’t understand certain things (e.g., outsourcing v offshoring per National Review), I think he understands some of those things quite well.  And I would venture that if we conservatives do not appreciate this fact we do so at our grave peril.  I believe, for example, that Obama knows perfectly well what the difference is between outsourcing and offshoring, but he has chosen to deliberately mislead folks who don’t know the difference because he thinks he can score some easy points at Romney’s expense.  He probably can.  But let’s call it for what it is.

I think it’s a different story on jobs.  I’ve advised folks for many years who may be competent in many areas but really don’t understand finance or the basic principles of money and the economy.  These folks rely on intuition, emotion, headline news and other people for their opinions.  The president of course has access to endless amounts of information about the economy and financial matters, but at heart it’s all academic for him since he’s never worked for an actual company that gauges its success from its balance sheet and income statement.  A company is the atomic particle that, together with other particles, makes up the organism that is our economy.  And it is clear from his words that our president doesn’t understand some of the most fundamental principles that give life to this being.

Obama’s response to the latest jobs data is just one more example of his fog on the issue.  He calls the non-growth in jobs a “step in the right direction.”  Come again?

Of course I think part of that is the typical Obama political deceit (anyone remember the growth we were supposed to get from the stimulus (and that small issue of the nation’s debt topping 100% of GDP about 10 years earlier than planned)?). But the other side of that coin is that when it comes to economic issues he really has no idea what he’s talking about, which is why so much of what he says lacks any ballast.

Oh yeah, and by the way, the jobs report is worse than you think or he’s willing to admit.

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