Obama doesn't know how to fix economy

Awhile back the President held a job summit. Before the gathered broke up into smaller groups the president gave a speech. First came the obligatory "It is Bush's fault" segment. It was followed by what the president thinks is one of the biggest problems, companies that laid people off to reduce costs are now showing a profit but are not hiring all the people back.

This shows a basic misunderstanding as to why businesses exist. To the president and many of his followers businesses exist to provide people with jobs. Actually businesses exist to make money, hopefully enough to stay in business with one of the side benefits being jobs.

The president's way of thinking would be to continue to hire people until the cost and profit balance each other out. What is the incentive for anyone starting a new business?

It was reported that between Obama's staff, his cabinet and their staffs there are over 400 people of which only 8 percent have had any private sector experience. That means 92 percent of them have never worked for a company that had to show a profit. Their salary has always come out of the tax revenue pool.

Until there is a basic understanding of how the private sector works and what causes it to expand I don't believe we will see much progress in the economy. Instead we will see Obama patting Senator Durbin on the back for the 2,000 jobs he created by moving 200 terrorists to Illinois (I know, the math doesn't make any sense to me either). This new project will put yet another large drain on the tax pool which will need to be replenished by the private sector.

Is there some way we could ask the government to please stop trying to help the economy?

Marc Thomsen

Elk Grove Village