On his weekend blitz of the Sunday morning talk shows, Obama was asked by Bob Schieffer of CBS if the extra costs of new health care legislation would be passed on to consumers.
Obama replied: "Here"s the problem, they're passing on those costs to the consumer anyway."
Huh? The president is saying that health care providers are passing on costs that don't currently exist?
And when pressed by Schieffer that "this would be more" costs, Obama said: "No, the difference is, they're making huge profits on it."
Here is an economics lesson for Obama: businesses must pass on to consumers the cost of producing their products or services, since if they don't they can't remain in business. Higher costs means higher prices.
This reminds me of an incident with my dentist, who expressed dismay with Obama's health care plans. My dentist believed that Obama was such a smart guy (and voted for him on that basis) he'd never do something so stupid as what the Democrats are proposing.
So for my dentist and all voters, the message from this and other incidents: check your premises. Democrats aren't as smart as you think, and the values they hold are inimical to prosperity.
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