President Obama's June 2 speech at Carnegie Mellon University in Pittsburgh, reflected again in his Oval Office speech last night, provided a foundational statement for his economic policies, explaining how he thinks they have worked so far, and how they will bring back prosperity in the rest of his term. Both speeches reveal a man who quite expressly thinks economic growth and prosperity are created by more government spending, higher taxes, and more regulation, and who can't imagine how anyone else could think differently. In Pittsburgh, President Obama expressly credited the TARP bailouts of the financial sector, the federal bailout...