WSJ's Moore falsely claimed Obama "never used the word 'entrepreneur' " in speech

››› ››› GREG LEWIS

On CNBC, Stephen Moore falsely claimed that President Obama "never used the word 'entrepreneur' " in an April 14 speech. In fact, during the speech Obama said, "If businesses and entrepreneurs know today that we are closing this carbon pollution loophole, they'll start investing in clean energy now."

During the April 14 edition of CNBC's The Kudlow Report, Wall Street Journal senior economics writer Stephen Moore falsely claimed that President Obama "never used the word 'entrepreneur' " in his April 14 speech at Georgetown University. Moore added: "[I]f you look at a new study by the Kauffman Foundation, it shows that in the last five recessions, it was the entrepreneur who led us out of those recessions. ... You know, he says the government's going to be doing the investing in energy and health care and all these -- education -- that you're talking about, Robert Reich. What about the private sector? What about the entrepreneur?" However, Obama did in fact mention "entrepreneurs" during his speech, saying:

If businesses and entrepreneurs know today that we are closing this carbon pollution loophole, they'll start investing in clean energy now. And pretty soon, we'll see more companies constructing solar panels and workers building wind turbines and car companies manufacturing fuel-efficient cars.

Investors will put some money into a new-energy technology, and a small business will open to start selling it. That's how we can grow this economy, enhance our security, and protect our planet at the same time.

From the April 14 edition of CNBC's The Kudlow Report:

LARRY KUDLOW (host): Steve Moore, look it. Here's the deal. I don't understand. Nothing in there for capital. Nothing in that speech for investors. Nothing for business, Steve. Now, this troubles me enormously because President Obama rarely talks about business and the importance of business in job creation and the importance of investors to fund job-creating businesses.

MOORE: It is interesting, Larry. He never used the word "entrepreneur." And, you know, if you look at a new study by the Kauffman Foundation, it shows that in the last five recessions, it was the entrepreneur who led us out of those recessions. And, you know, the -- what really troubles me about this speech and this kind of philosophy, John [Harwood, CNBC and New York Times reporter] and Robert [Reich, labor secretary under President Clinton], is that basically, Obama really does see the government as the catalyst. You know, he says the government's going to be doing the investing in energy and health care and all these -- education -- that you're talking about, Robert Reich. What about the private sector? What about the entrepreneur?

REICH: Well, eventually, the private sector is coming back, Steve, but right now, the private sector's gone to sleep. I mean, consumers and businesses are not investing, they're not buying. Government is where the action is, and it's got to be at least in the interim.

From Obama's April 14 speech at Georgetown University:

OBAMA: Transitioning to a clean-energy economy will not be easy. But we can no longer delay putting a framework for a clean-energy economy in place. That needs to be done now. If businesses --

[applause]

If businesses and entrepreneurs know today that we are closing this carbon pollution loophole, they'll start investing in clean energy now. And pretty soon, we'll see more companies constructing solar panels and workers building wind turbines and car companies manufacturing fuel-efficient cars.

Investors will put some money into a new-energy technology, and a small business will open to start selling it. That's how we can grow this economy, enhance our security, and protect our planet at the same time.

Now, the fourth pillar of our new foundation is a 21st century health care system where families, businesses, and government budgets aren't dragged down by skyrocketing insurance premiums.

Posted In
Economy
Network/Outlet
CNBC
Person
Stephen Moore
Show/Publication
Kudlow Report
Stories/Interests
Attacks on Barack Obama, Propaganda/Noise Machine
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