Obama on Public vs Private Health Care

I just caught a bit of President Obama's news conference wherein he stated, essentially, that if private sector health care is so good, affordable, etc... then it ought not have any problem competing with a public sector option.

So we have a president that ignores or doesn't understand the key difference between public and private sector economic activity. The difference of course is the source of revenue. Private businesses must earn their income by providing a product or a service that someone voluntarily chooses to purchase while the government just takes the money that they need, from the private sector.

I am slightly embarrased that we have a president say and apparently believe something so silly.