Well, he’s a leftist. Of course he is clueless about how economics actually works!
I will concede there may be a small minority among the left who are there only out of sheer wickedness, who do understand how economic works, but advocate unworkable things precisely because they know they will fail. Personally I supect Obama is of the wicked *and* clueless variety.
Not so clueless that he hasn't squirreled away all his money in state bonds.