"The private sector is doing fine. Where we’re seeing weaknesses in our economy have to do with state and local government. Oftentimes cuts initiated by, you know, Governors or mayors who are not getting the kind of help that they have in the past from the federal government and who don’t have the same kind of flexibility as the federal government in dealing with fewer revenues coming in.
The Peter Principle President's cluelessness is astonishing it what it reflects about his economic ignorance.
And so, you know, if Republicans want to be helpful, if they really want to move forward and put people back to work, what they should be thinking about is how do we help state and local governments and how do we help the construction industry?"
As one commentator explained,:
"...the belief that the private sector is rich and the public sector is poor, so that transfers of wealth from private sector to public sector are endlessly justified, is embedded deeply in Obama’s ideology.
The classic formulation of this proposition goes back to John Kenneth Galbraith’s The Affluent Society, published in 1958. Galbraith contrasted the worlds of “private opulence and public squalor” in the course of arguing for massive government spending programs. Galbraith’s book was epically wrong-headed, but the idea that the private sector is rich and the public sector is underfunded lives on as one of the pillars of liberal ideology.
...Government spending consumes an ever-growing share of America’s wealth, and study after study shows that public sector workers are paid vastly better than private sector workers. In today’s world, opulence is far more a feature of the world of government than of private industry. But this is a fact around which leftists like Barack
Obama simply cannot wrap their minds. They cling bitterly to the old stereotypes, because to do otherwise would call into question their entire worldview. To them, the private sector is always “doing fine;” if anything, in their hostile eyes, too well.
Obama’s friends in the press will try to minimize the significance of what he said today, I suspect unsuccessfully. Romney’s campaign will make sure that millions of Americans find out that Obama thinks the economy’s miserable performance over the last four years is perfectly acceptable, at least as far as the private sector–something like 85% of Americans–is concerned."
Now, I am certain that the Main Stream Media will not cover this President's incompetent GAFFE to the same degree they covered past Presidential gaffes, like when:
1] Nixon once said to Frost, that, “When the President does it, that means it’s not illegal.”;
2] Bush said, “Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we.”; or,
3] Bush explained that, “Let’s make sure that there is certainty during uncertain times in our economy.”
But let us remember that even this GAFFE is not President Incompetano's fault because we all know it was Bush's fault.
One hundred and fifty  days left before we get the chance to remove this embarrassment from the White House.
150 days and Counting