Mitt Romney didn’t take long to respond to the president’s assertion that the “private sector is doing fine.” Take a look and get used so it — you will see much more of this in the months ahead:

The RNC also chimed in with an ad.

As Ben Smith put it, “Barack Obama’s assertion today that the private sector is ‘doing fine’ may be an important pivot in the race for president, a moment when Mitt Romney finally succeeded in casting the president as basically out of touch with Americans’ economic woes.” We’ll see if Obama can dig up any reliable surrogates willing to spin for him on the Sunday talk shows.

But the problem isn’t merely that Obama thinks the private sector is doing fine, but that he thinks the growth of the public sector and public employees is a good thing. Is this someone who has any intention to cut government? There is little wonder that he ignored Bowles-Simpson, ditched the “grand bargain,” and submitted three budgets in a row with at least a trillion dollar deficit.

He did not come to D.C. to shrink government. He will raise sufficient taxes to pay for the overstuffed welfare state, and the salaries and benefits of hordes of public employees, rather than exercise any fiscal discipline. Unfortunately, eventually we won’t be able to sell our debt and the tax hikes will need to extend to middle class voters. As Margaret Thatcher said, the problem with socialism is that sooner or later you run out of other people’s money to spend.