Charles Payne

"Other countries know how to do this. If France can figure this out, we can figure it out."

"All too often, they are the result of outdated policies and old ways of thinking."

"Paid family leave, child care, workplace flexibility and better wages, should be part of our bottom line as a society."
-President Obama

Speaking at the White House Summit on 'Working Families,' our Commander- in-Chief lauded France and its family leave policy. Obama is angling toward some kind of federal fund that would eventually be funded by "rich" workers with families, goals, dreams, and businesses where the nation would get out of its outdated ways of thinking. Of course, outdated means profits which usually mean more jobs, but if society controls corporate balance sheets and gets a crack at the income statement, then it is all a moot point.

This socialist stuff might play well with some, but it has failed all over the world and also, it would destroy America's economic foundation. This is yet another reach into the coffers of money earned by others. In any other place, it would be called 'theft,' not 'a smart policy,' and definitely not 'a new way of thinking.' In America, most large businesses have generous maternity laws while smaller companies cannot afford to pay people who are not working. This is not antiqued - just a fact in a free market society.

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Work-Life

President Obama continues to move to remake America into Europe by pushing the so-called "Work Life Balance" initiative, which in my mind is an extension of FDR's goal of freeing Americans from 'want.' The idea of a world of leisure where we work less, but get more defies math and human nature. It might be the centerpiece of a Utopian world, where fairness dictates the redistribution of wealth and guarantees an outcome in both cases, regardless of individual effort and merit.

America's share of global GDP peaked in the 1950s as we have worked less and others have worked more. Back then, America was so far ahead of the rest of the world, crawling out of the Great War that we could afford to enjoy the good life. Nevertheless, the good life is not free, and except for the period that covered the presidency of Reagan and Clinton, the downward trajectory has been tough to reverse.


Charles Payne

Charles V. Payne is a regular contributor to the Fox Business and Fox News Networks. He is also the Chief Executive Officer and Principle Analyst of Wall Street Strategies, Inc. (WSSI), founded in 1991 which provides subscription analytical services to both individual and institutional investors.