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President Obama doesn’t understand economics

December 15, 2012
The Marietta Times

President Obama in Michigan proved once again that he doesn't understand economics. He said, "This isn't about economics, it's about politics. It's about the Right to Work - your right to work for less money." The President has a great capacity for empathy, but unfortunately his empathy doesn't include the capacity to tell the hard truth about the real world. Michigan has or had laws very generous to unions. In the good years, the unions negotiated very generous terms with the auto companies. But in the lean years, those generous terms bankrupted the auto companies until Detroit and Flint are virtually ghost towns. And no large company is going to locate a plant in Michigan if it has to deal with the unions on the same terms. So they locate in states with Right to Work laws. So the issue is economic.



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