Caught without his teleprompter, President Barack Obama recently gave an unintended glimpse into how he views the nation's economic difficulties. He believes the problem isn't that the private sector labors under government regulations, taxes and interference. Rather, the nation's problem, according to the president, is that there aren't enough government regulations, taxes and interference.

"The private sector is doing fine," the president said at a Friday news conference.

As the Heritage Foundation's Amy Payne, put it, "This, of course, was news to the 12.7 million people who are out of work and the millions more who are struggling with the part-time jobs they can find, or have simply given up looking."

Being an election year, the president quickly tried to walk back his statement: "It's absolutely clear the economy is not doing fine. ... There are too many people out of work. The housing market is still weak, too many homes underwater and that's precisely why I asked Congress to start taking some steps that can make a difference."

Less reported was Obama's other revealing remarks Friday. He also declared that what ails America is that government is getting smaller rather than larger.

"Where we're seeing weaknesses in our economy has to do with state and local government — oftentimes, cuts initiated by governors or mayors who are not getting the kind of help that they have in the past from the federal government," the president said. We don't expect he will retract that statement.

Obama believes economic salvation rests in more government, more government spending, and necessarily, more taxation to pay for this grand vision.

The difference between his vision for America and that held by most Americans was revealed in his first inadvertent admission: He thinks the private sector is doing fine.

Obama's stated remedy — more economy-stifling government regulations, taxes and interference — has aggravated a normal economic downswing to the point that it resembles the failing Big Government states of Europe.

REPRINTED FROM THE ORANGE COUNTY REGISTER