They either didn't hear parts two and three, or didn't have the fiscal courage and intestinal fortitude to serve their public trust. It should have been stillborn. We can look back and see exactly what we have done and it is not a pretty picture of which we can be proud. First a note on the makeup of our economy. It is in two parts, enterprise and government.
Wealth is anything that has value that people are willing to work for and pay for.
The job of government is to create a climate of creating wealth. But there's a kicker. Government is a net consumer, not creator of wealth. The one choice we have as a society and polity is how big a government we have. We can make it larger or smaller, or keep it the same.