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Deconstructing Obamanomics



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Today on Uncommon Knowledge Thomas Sowell, author of The Housing Boom and Bust. The Obama administration, Sowell argues, is a great deal less intent on reviving the economy than on forever altering the relationship of Americans to the federal government. The leading instance? Why health care, of course: 

What urgent reason is there to believe that the government of all institutions can make healthcare less expensive? If you want something cheaper, you can always get something cheaper.  It is just that you are not going to get the same quality. In order for them to bring down the cost of healthcare, the government would have to operate the system more efficiently than the market does.  I cannot think of anything that the government operates more efficiently than the market does.

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