People vastly overestimate the ability of central planners to improve on the independent action of diverse individuals. What I've learned watching regulators is that they almost always make things worse. If regulators did nothing, the self-correcting mechanisms of the market would mitigate most problems with more finesse. And less cost.

Where I live in Manhattan and where I work at ABC, people say conservative the way people say child molester.

Saying that government is not the way to solve problems is not saying that humanity cannot solve its problems. What I've finally learned is this: Despite the obstacles created by governments, voluntary networks of private individuals - through voluntary exchange - solve all sorts of challenges.

Any money the government spends must be taxed, borrowed or conjured out of thin air by the Federal Reserve, and that will reduce sound private investment. Obama has no real wealth to inject into the economy. He can only move around existing money while inflation robs us of purchasing power. Meanwhile, private investors who might have produced a better engine, battery, computer, cancer treatment or other wealth-creating and life-enhancing innovations hold back for fear that big government will undermine productive efforts.

Prosperity comes from leaving people free in a legal system that respects their persons and property so they can pursue their dreams while taking responsibility for their actions.

Government is so big today that more than half the population gets a major part of its income from the state.

As coercive monopolies that spend other people's money taken by force, governments are uniquely unqualified to solve problems. They are riddled by ignorance, perverse incentives, incompetence and are self-serving.