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The Inequality President: The rich have done fine under Obamanomics, not so the middle class.
Wall Street Journal ^ | 07/25/2013

Posted on 07/25/2013 10:19:56 AM PDT by SeekAndFind

President Obama made his fourth or fifth, or maybe it's the seventh or eighth, pivot to the economy on Wednesday, and a revealing speech it was. We counted four mentions of "growth" but "inequality" got five. This goes a long way to explaining why Mr. Obama is still bemoaning the state of the economy five years into his Presidency.

The President summed up his economic priorities close to the top of his hour-long address. "This growing inequality isn't just morally wrong; it's bad economics," he told his Galesburg, Illinois audience. "When middle-class families have less to spend, businesses have fewer customers. When wealth concentrates at the very top, it can inflate unstable bubbles that threaten the economy. When the rungs on the ladder of opportunity grow farther apart, it undermines the very essence of this country."

Then the heart of the matter: "That's why reversing these trends must be Washington's highest priority. It's certainly my highest priority."

Which is the problem. For four and a half years, Mr. Obama has focused his policies on reducing inequality rather than increasing growth. The predictable result has been more inequality and less growth. As even Mr. Obama conceded in his speech, the rich have done well in the last few years thanks to a rising stock market, but the middle class and poor have not. The President called his speech "A Better Bargain for the Middle Class," but no President has done worse by the middle class in modern times.

By now the lackluster growth figures are well known. The recovery that began four years ago has been one of the weakest on record, averaging a little more than 2%. And it has not gained speed. Growth in the fourth quarter of 2012 was 0.4%.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: inequality; middleclass; obama; rich

1 posted on 07/25/2013 10:19:56 AM PDT by SeekAndFind
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To: SeekAndFind

Number One priority for conservative constitutionalists must be to support primarying the feckless republican rhino non-opposition. End the country’s slide towards Detroit writ large. Senator Lee’s initiative to defund Obamacare is the litmus test.

2 posted on 07/25/2013 10:25:55 AM PDT by LALALAW (one of the asses who's sick of our "ruling" classes)
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To: SeekAndFind

This is intentional. Anyone who doubts it is living with their eyes closed. Obama is the figurehead for the northeastern oligarchists. He does everything necessary to benefit the Ivy Leaguers, the multinationals, the government workers, etc. at the expense of everyone else.

3 posted on 07/25/2013 10:31:02 AM PDT by Thane_Banquo ( Walker 2016)
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To: SeekAndFind

If you think the disparity is great now, wait until Obamacare kicks in with full force. Higher taxes per the Supreme Court and reduced hours of work to avoid Obamacare should insure a dramatic growth in the wealth divide.

4 posted on 07/25/2013 10:37:13 AM PDT by monocle
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To: SeekAndFind
He uses a very simple tactic to avoid blame and accountability. He preemptively and repetitively talks about an issue as if he is a victim of it, as if it has been done to him by bad people. He seperates himself from the problem.

His speeches about the economy over the last 6 years have been identical. His strategy is to deflect blame and buy time for his policies to cement voter demographics. His overall strategy is to guarantee Democrat control in the future. Democrat control means communism.

5 posted on 07/25/2013 11:01:17 AM PDT by ryan71 (The Partisans)
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To: ryan71

He can’t help himself.

6 posted on 07/25/2013 11:52:39 AM PDT by Eric in the Ozarks (NRA Life Member)
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To: SeekAndFind
Diary of a Legislative Body----by Will Rogers

Monday---Soak the Rich

Tuesday---Begin hearing from the Rich

Tuesday Afternoon---Decide to give the Rich a chance to get richer

Wednesday---Tax Wall Street stock sales

Thursday---Get word from Wall Street; "Lay off us or you will get no campaign contributions

Thursday Afternoon---Decide-We are wrong about Wall Street

Friday---Soak the little fellow

Saturday Morning---Find out there is no little fellow-he as been soaked until he is drowned


Next Week---Same procedure, only more talk and less results

7 posted on 07/25/2013 12:03:02 PM PDT by Parmy
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To: SeekAndFind

The rich doing better than the middle class is an attribute of every recession or depression.

8 posted on 07/25/2013 12:07:07 PM PDT by buffaloguy
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Reeling from his over 4 year failure to achieve his stated goal of “Fundamentally changing the United States of America,” Communist Tyrant B. Hussein Obama has embarked on another expensive road trip to try to sell his Commune-Style power grab of 1/6 th of the US economy by promoting the idea that increased Federal debt is the best way of salvation for the over-taxed Middle Class.

The problem is not with loyal Communist Obama, as he is just doing what his Communist trainers have taught him to do.

The problem lies with the sorry House RINOs who keep John Boehner on as their useless, Commie Obama enabler Speaker.

Nothing is going to help Commie Obama more than to keep John Boehner on as Speaker of the House.

Boehner has repeatedly stated his baseless fear that “If the Republicians stand up and oppose Obama we might be blamed by the Liberals for __________________(Fill in the blank).”

It is time for the House RINOs to step up to the plate and fight FOR The Republic, and not wallow in the baseless fears of losing the fake prasie of Liberals when a “Bi-Partisan Cave-In” is finally agreed to.

The reality is that WE would cheer “Shutting down the Government,” and it’s ‘non-essential’ Federal expenditures, or “playing politics” with Commie Obama’s “phony scandals” such as the Obama coverup of the Benghazi Massacre, or the NSA, or IRS, etc., etc., etc.

Rather than taking the fight TO the enemy, in this case the inexorable attempt to turn our Republic into a Communist State, Boehner has consistently shown that he is not a fighter.

It is time during Commie Obama’s con-artist tour of the remaining Liberal bastions in America for us to demand from our sorry House RINOs that they depose scardy-cat Boehner as Speaker, and install a FIGHTER worthy of our trust in his/her record of defeating Communist Con-Artists such as B. Hussein Obama.

What say all of you?

9 posted on 07/25/2013 12:18:23 PM PDT by Graewoulf (Traitor John Roberts' Commune-Style Obama'care' violates U.S. Constitution AND Anti-Trust Law.)
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I agree that we need to root out those Republicans who will not fight back against the Leftist war on reality--for that is what it is. But the number one priority should be to confront the fact that it is a war against reality, by waking people up to the fact that there is no rational argument for that war!

We are never going to turn the tide, until we attack the false underpinnings of those who play the blame & envy game.

Consider Compassion Or Compulsion? In the long term--even medium term--no one--no one--but demagogues & scoundrels benefit from what is being promoted.

William Flax

10 posted on 07/25/2013 12:36:59 PM PDT by Ohioan
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