John McCain and Sarah Palin they call this socialistic. You know I don’t know when, when they decided they wanted to make a virtue out of selfishness.
Since the left bloggers have been waging war on objectivism and Ayn Rand in particular, it makes sense that this would surface in Obama's speech. What it reveals is that despite his attempts to portray himself as a centrist, he is what he appears to be: a hard core radical leftist with a socialist philosophy of government and finance.
Obama says he can enrich the individual at the expense of other individuals but that is the oldest con after 'try it, you'll like it'. It only enriches the con man. When done to an eager mark, it is an act of confidence over arrogance. When done to a country simply wanting to be rid of confidence men, it is fraud against justice.
The smallest minority on earth is the individual. Those who deny individual rights cannot claim to be defenders of minorities. - Ayn Rand -
The extreme objectivist position is that if a government gives to each according to needs and takes according to abilities, a society of incapable needy emerges. Experience shows that is too extreme. What happens is the needy move to the capable and unless the capable take more, they can't give more. This is called the 'free rider' dilemma in web communities. The response is usually to close the lists to real contributors with participation agreements for intellectual property that do not harm the commons but do not enable the commons to be pillaged.
Objectivism isn't wrong. Rand overromanticized her position but behaviorally, it is correct.
Selfishness isn't virtuous but neither is theft by a powerful minority in the name of an undiscriminated majority. It is the supreme confidence game which victimizes the poor and the rich simultaneously for the good of a few who are grabbing for wealth and power. In short, it is piracy, a very democratic institution, which, by the way, is why America is a republic.