Obama's Wesleyan Speech

Obama took over for Ted Kennedy at the Wesleyan commencement ceremony this past weekend. He focused mainly on inspiring the graduates to pursue careers in public service and forget about "the big house and the nice suits and all the other things that our money culture says you should buy." Many on the right will try to vilify him for being hypocritical, just as they did with Gore and global warming. That's the easiest criticism and the one most likely to stick with people. He did a stint in public service, so I won't go there. The real discussion should address what he actually said.

The public sector is definitely in need of young, talented college graduates, but this country thrives on innovation from the private sector. You would never get that from an Obama speech, which is always laced with populist, anti-private sector rhetoric. Unlike some Democratic politicians, I think he actually believes in a populist agenda and that's scary. His economic policies are toally disconnected from reality. He talks about raising the capital gains tax to 28% from 15%. The last time this was done revenues declined. Interestingly, only a small fraction his portfolio is comprised of stocks. He has talked specifically about restricting entire industries. He wants to rein in big pharmaceuticals, the companies that account for our medicinal breakthroughs. He wants to impose a windfall tax on oil companies at a time when we need the oil companies to take those profits and invest heavily in infrastructure to increase production in order to meet rising demand from developing countries. I'm not a mathematical whiz, but I'm pretty sure that less incentives equals less innovation.

How can someone so smart be so stupid? It definitely speaks to his oratory skills that he can get so many people swallowing his "Yes We Can" bullshit without actually analyzing what he's saying. He's like a really great magician, one who can make you think about the mystery and not the science. This country is among the greatest innovators in the world. Under a president Obama that may change.

Lastly, Obama ended his speech with this gem, "At a time of inequality, we need you to work for opportunity." It sounds like Michelle got her hands on this. She likes to believe that racism is around every corner, but this is not the 60s and racism is not pervasive. After he told them "That's your task, Class of 2008" I'm sure everyone was ready to start chanting "Yes We Can" like a bunch of lemmings.