Next Monday, October 27 marks the 50th anniversary of Ronald Reagan’s iconic “Time For Choosing” speech. It was a speech that sparked the modern Conservative Movement, ignited a fire in the hearts of conservatives, and launched Ronald Reagan’s public policy career.

This week as part of a year-long “Time for Choosing: The Next Generation” initiative, Young America’s Foundation is releasing a series of videos in conjunction with the anniversary of this significant speech. The fourth video focuses on the private sector.

Ronald Reagan understood the evils of communism and socialist policies. He knew by diminishing the role of the private sector, government stood to benefit and subsequently control the American people.

One of the most powerful lines of his 1964 speech was, “Governments don’t control things. A government can’t control the economy without controlling the people. When a government does that it must use force and use coercion to achieve its purpose.”

In his “Time for Choosing” speech Reagan also said, “They also knew–those Founding Fathers–that outside its legitimate function government does nothing as well or as economically as the private sector.”

That statement is even more meaningful today, as we face the disastrous economic consequences of Obama’s socialized healthcare system. Contrast that statement with today where we know have a socialized healthcare system. Obamacare has been a completely failure–taking away choice from the American people and subjecting them to a government run health-care program that is less than adequate. We are seeing healthcare costs rise under this socialist system because the private sector marketplace is forced out by government regulations. Inefficiency and waste are also inevitable when we take power and financial resources away from the private sector and put them in the hands of the federal government.

Our President believes that the government is the solution to all of our problems. He has single-handedly grown government programs and pushed forward his own socialist healthcare program. Obama bailed out the auto industry with taxpayer dollars, believing that the government was the answer to the crisis. He refuses to recognize the success of free-markets and places more control in the hands of federal government bureaucrats. It is not surprising, that as government grows we have seen scandal after scandal in Washington, D.C.–a result of granting government bureaucrats excessive power and with no accountability.

Ronald Reagan was truly a visionary. Before he ever stepped foot in the White House, he saw the path of destruction that progressives were creating for America. Reagan truly believed in the power of the individual, the entrepreneurial spirit, and the private sector. His policies helped to create a sustainable economy–one which continued to prosper long after he left office. Today’s policy makers would do well to follow in his footsteps.

You can view the YAF video on limited government here.

You can view the YAF video on entitlements here.

You can view the YAF video on national security here.

Ashley Pratte is the spokeswoman for Young America’s Foundation