Want to open a business in America? It isn't easy.
In Midway, Ga., a 14-year-old girl and her 10-year-old sister sold lemonade from their front yard. Two police officers bought some. But the next day, different officers ordered them to close their stand.
Imagine this family budget:
Last year, you earned $24,700. But you spent $37,900, incurring $13,300 in debt, and you were already $153,500 in debt.
President Obama said in his State of the Union speech, "We've already agreed to more than $2 trillion in cuts and savings."
In the Declaration of Independence, Thomas Jefferson called the pursuit of happiness an unalienable right. This was a radical idea. For most of history, most people didn't think much about pursuing happiness. They were too busy just trying to survive.
With an election approaching and at least some Americans upset about irresponsible spending, the president has finally expressed a political interest in cutting something. He says the Pentagon will spend "only" $525 billion next year. That's slightly less than the current $531 billion.
Has Barack Obama learned nothing in three years? Last night, during his State of the Union address, he promised "a blueprint for an economy." But economies are crushed by blueprints. An economy is really nothing more than people participating in an unfathomably complex spontaneous network of exchanges aimed at improving their material circumstances. It can't even be diagrammed, much less planned. And any attempt at it will come to grief.
