Obama blames economic woes, some real some manufactured (“inequality”) on a philosophy and policy that was abandoned a century ago. What doesn’t exist is what he says didn’t work. Obama absurdly suggests that timid, half-hearted, compromisers, like George W. Bush, installed laissez-faire capitalism–on the grounds that they tinkered with one or two regulations (Glass-Steagall) and marginal tax rates–while blanking out the fact that under the Bush administration, government spending ballooned, growing much faster than under Clinton, and 50,000 new regulations were added to the Federal Register.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "Obama blames economic woes, some real some manufactured (“inequality”) on a philosophy and policy that was abandoned a century ago. What doesn’t exist is what he says didn’t work. Obama absurdly suggests that timid, half-hearted, compromisers, like George W. Bush, installed laissez-faire capitalism–on the grounds that they tinkered with one or two regulations (Glass-Steagall) and marginal tax rates–while blanking out the fact that under the Bush administration, government spending ballooned, growing much faster than under Clinton, and 50,000 new regulations were added to the Federal Register." in the context of "Harry Binswanger in Forbes (31 December 2013)" to mean that wisdom is timeless.