Obama: "You're On Your Own" Economics Doesn't Work

RealClearPolitics
Mar. 30, 2012

"You know, each of us is only here because somebody somewhere felt responsibility, yes to their families, but also to their fellow citizens. Also to our country's future. That's the American story. The American story is not just about what we do on our own. Yes, we're rugged individualists, we expect personally responsibility and everybody out there has got to work hard and carry their weight," President Obama said at a fundraiser with college students at the University of Vermont.

"We also have always understood that we wouldn't win the race for new jobs and businesses, and middle class security if we were just applying some 'you're on your own economics,'" Obama said.

"It's been tried in our history and it hasn't worked," Obama said. "It didn't work when we tried it in the decade before the Great Depression. It didn't work when we tried it in the last decade. We just tried this. What they're peddling has been tried -- it did not work!"

Video here