Barack Obama Discovers ATM's

Why is unemployment so high?Barack Obama knows,"ATM's" and other new technologies are to blame.From Michelle Malkin;

Earlier today, the professor-in-chief himself opened his mouth and exposed his abject ignorance of how free markets work. Straining to explain away another Wreckovery Summer, President Obama blamed technological innovation instead of his own hapless technocrats for high unemployment. He told the Today Show:
“There are some structural issues with our economy where a lot of businesses have learned to become much more efficient with a lot fewer workers. You see it when you go to a bank and you use an ATM, you don’t go to a bank teller, or you go to the airport and you’re using a kiosk instead of checking in at the gate.”
Can he possibly be more out of touch?

Its one thing to lie to me,its another thing however to insult my intellegence and the above statement from the POTUS is insulting.