Um yeah, it means President Bush isn't a cranky utopian theoretical Libertarian with a chip on his shoulder.
It is the same common sense behind the idea that you don't have the absolute right to build an anthrax factory or do-it-yourself nuclear bomb in your basement in the middle of a subdivison or city.
You can do better.
That sentence has a deep meaning, and considering the wealth transfer and the globalism that has been America's agenda for 30 years, is a very dangerous line in this Inaugural.
All conservatives should have a big question mark next to that sentence and should demand an answer to what he is getting at.