OPINION_ Tom Del Beccaro: Obama never understood the 'magic wand' let alone economics, and neither does Sanders or Bloomberg

FOX NEWS

OPINION
Published 7 hours ago

Tom Del Beccaro: Obama never understood the 'magic wand' let alone economics, and neither does Sanders or Bloomberg


OPINION - By Tom Del Beccaro | Fox News

 
President Trump rejects Obama taking credit for booming US economy
Reaction and analysis from RNC deputy communications director Cassie Smedile.


President Barack Obama famously asked candidate Donald Trump, “What magic wand do you have?” when speaking about Trump’s plan to revive the economy. Three years into his presidency few argue that the economy isn’t doing well -- and the magic wand is plain for all to see.

Big government proponents like Obama and the lot of Democrat 2020 presidential aspirants will never understand that the magic wand is the American people -- if only government would get out of their way. That is what Trump has done -- reduced government interference -- and, in response, American ingenuity and hard work (now less hampered) has produced greater prosperity. They did the same when Coolidge, Kennedy, Reagan and Bush 43 reduced taxes as well.

At its core, economics is rather simple. It is the study of human behavior. Since we are the same beings as countless generations before us, we act with regularity.


GUTFELD ON OBAMA CLAIMING CREDIT FOR TRUMP'S ECONOMY


So, when Macy’s announces a sale on Friday, people change their behavior and go to Macy’s on Friday instead of Thursday -- just to save twenty dollars or so. When that bi-partisan group of presidents reduced taxes and, some of them our regulatory burden, they put the economy on sale. The cost of doing business in America was reduced and people responded by investing and spending more.

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READ MORE: https://www.foxnews.com/opinion/tom-del-beccaro-obama-never-understood-the-magic-wand-let-alone-economics-and-neither-does-sanders-or-bloomberg


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