Secretary Gates does not appear to fully grasp this fact, perhaps because he has spent his entire tenure at the Pentagon fighting an enemy that has no air force.

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Mr. Obama and his advisers need to grasp this essential fact: Entrepreneurs are not just a cute little subsector of the American economy.

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Still, despite this, Obama seems to at least grasp the fact that the problem we face at the moment is not too much government, but insufficient demand.

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