The “private sector is doing fine,” is what President Obama said a few weeks back. He went on to say that local and state governments are responsible for the struggling economy.
The president is right that local governments have been forced to trim their budgets in response to the economic downturn. Having served as a Clark County commissioner for 28 years, I know that our local governments have made major budget cuts and the school district recently had to lay off more than 400 teachers. But President Obama’s comments demonstrate a misunderstanding of how our economy works.
(Source: Las Vegas Review-Journal, 6/25/12, “Economy not ‘doing fine’ – and don’t blame local governments,” by Bruce Woodberry)