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President Obama Explains How the Economy 'Grows': 'Roads and Bridges...

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"We do not need more tax cuts for folks who are already doing really well.  We need tax cuts for working Americans."

President Barack Obama delivers remarks during a campaign event in Mansfield Central Park in Mansfield Ohio, August 1, 2012. (Photo: Getty Images)

President Obama gave a speech in Mansfield, Ohio Wednesday where he explained to the crowd how he believes the economy works.  According to the president, if the government taxes families making over $250,000 at a higher rate, and then spends the money on "roads and bridges," the economy will eventually get back to its roaring state.

(Related: 'We Tried Our Plan, & It Worked': U.S. Manufacturing Shrank Again in July)

He explained (transcript via the White House):

When folks have money to spend, they buy a new car, and the car companies do well, and they hire more workers.  (Applause.)  When you've got some extra money in your pockets, then you go get some pizza from Brenda.  (Applause.)  And then Brenda decides, maybe she can afford to hire another worker.  That's how we grow our economy.

And while no one is arguing that when "folks have money to spend" the economy is probably growing, how does the president think we get there?

If we're investing in roads and bridges, putting some hard-hats back to work, getting our steelworkers back to work -- (applause) -- they've got more money to spend.  Maybe they buy that new computer.  Maybe they decide to take a little vacation. And all that money circulates in the economy and it makes us all grow.  

Though he lamented the "uncompromising view" people take towards politics at the beginning of his speech, Obama added:

So here's the bottom line, Ohio.  If you believe that their plan -- Mr. Romney's plan and his congressional allies -- if you genuinely believe that that plan will make you better off, if you believe it’s okay for them to tell us just to set our sights lower, or to settle for something less, then by all means, send these folks back to Washington for the next few years.

[Emphasis added]

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But that's not all the president said.  In another inadvertent slip, Obama seemed to imply that those who are "doing well" are not really "working Americans" who are trying to provide for their families.

He told the crowd:

Ohio, we do not need more tax cuts for folks who are already doing really well.  We need tax cuts for working Americans.  We need tax cuts for families who are trying to raise their children, and keep them healthy, and send them to college, and put a roof over their heads...

That’s the choice in this election.  That’s why I’m running for a second term as President of the United States. [Emphasis added]

Which leaves some wondering: just how does President Obama think "the wealthiest Americans" came into their money?  Are all of them Hiltons, Kennedys, and lottery winners?  Are they not "working Americans" because they've been successful?

One business owner has been so insulted by Obama's rhetoric he put up a sign: “I built this business without gov’t help.  Obama can kiss my a**.  I'm Ray Gaster and I approve this message."

(H/T: Washington Examiner)

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