Posted on 12/04/2013 10:42:57 AM PST by jazusamo
President Obama on Wednesday declared that addressing income inequality would be the focus of “all” of the White House’s efforts “for the rest of my presidency.”
In a sweeping address that touched on raising the minimum wage, investing in infrastructure and ending tax breaks for the wealthy, Obama warned that the American economy has become “profoundly unequal,” declaring economic mobility the “challenge of our time.”
“The combined trends of increasing inequality and decreasing mobility pose a fundamental threat to the American dream, our way of life, and what we stand for around the globe,” he said in an hour-long speech from a community center in one of Washington, D.C.’s poorest neighborhoods. Obama’s speech came as the president has seen his approval ratings drop with the disastrous rollout of ObamaCare.
A CBS News poll released last month showed six in 10 adults disapprove of the president's handling of the economy. Some 69 percent say the president has not made real progress toward fixing economic problems. And despite a booming stock market, unemployment remains high, at 7.3 percent.
Unemployment would be even higher were it not for the millions of people who have left the workforce. The percentage rate of people in the workforce has fallen since the recession that was in full force at the beginning of Obama’s presidency.
Republicans argue ObamaCare and regulations issued by the administration are holding back the economy further, hurting people at various income levels.
In his speech, Obama pointed the finger of blame at Congress, arguing its inaction on several issues was exacerbating problems.
Ahead of an push in the Senate to raise the federal minimum wage above $10, Obama argued that those who work hard “should make a decent living.”
“It's well past the time to raise a minimum wage that, in real terms right now, is below where it was when Harry Truman was in office,” said Obama, who called for a minimum wage hike in his 2013 State of the Union address. The White House has since focused its attention more on other issues, including immigration reform.
He reiterated calls to reform the corporate tax codes, repeal the sequester and pass legislation preventing discrimination against female and gay employees. And Obama said that rather than focusing simply on deficits, Congress should invest in technology and infrastructure.
“A growing deficit of opportunity is more of a threat to our future than our rapidly shrinking fiscal deficit,” Obama said.
He also again pushed for universal high-quality pre-K education, and said he would soon announce economic “promise zones” to help lift children out of poverty.
Obama called for an extension of emergency unemployment benefits set to lapse by the end of the year, as well. House Republicans have signaled they likely will not support an extension.
The president argued that his embattled healthcare law was boosting the economy and helping improve the economic security of poor and middle-class Americans.
“This law is going to work, and for the sake of our economy, it needs to work,” Obama said.
Still, it remains an open question what progress — if any — the president will be able to make towards his economic agenda.
Almost every one of the proposals the president outlined had been mentioned before, including during his inaugural and State of the Union addresses earlier this year. But aside from a slight tax increase on the richest Americans early last year, the president has seen his economic agenda stymied in the Republican-controlled House.
On Wednesday, Obama signaled that he would look to more aggressively challenge Republicans to “offer their own” ideas to address inequality.
“You owe it to the American people to tell us what you are for, not just what you're against,” Obama said. “It's not just enough anymore to say get the government out of the way and let the unfettered market take care of it.”
Another thought, McCain threw the first election knowing exactly what this POS was/is......"and we had nothing to fear from an Obama presidency". Really? McCain is worse than a Democrat, much worse. He and his party are as much to blame as Obama.....
Both parties are traitors to America and should be dealt with as such.
“A growing deficit of opportunity is more of a threat to our future than our rapidly shrinking fiscal deficit,” Obama said.”
WTH?...........
Dawg, he’s talkin’ about unemployment, under employment and the 40% unemployment rate for black yoots that his policies have created
Yep, these are thoughts of a communist, plain and simple.
He needs to set up some reeducation camps to straighten out those evil rich people. Better yet, make the minimum wage a million a year and everyone is wealthy.
What a marroon.
Pray America is Waking
Hey, we’ve been complaining about all the money he’s wasting, and now’s he’s doing something about cutting costs... by reusing Lenin’s old speeches.
Democrats economic policy of “trickle up economics” (welfare state) is designed to increase the number of people in poverty by destroying the middle class and increasing the wealth at the top.
This, by a man who has repeatedly shown favoritism for well connected people, organizations and corporations.
His actions have done nothing to advance the poor. Rather, he has further enslaved them.
This is why Obama is doing everything possible to make the rich and well-connected donors to his party even richer.
Sort of like OJ Simpson searching the planet for the real killers.
A major impediment to new business start-ups is gov regulation that advantages established companies.
Obama's simply trying to shore up his base that's freakin' out over obamacareless.
“Ten Years After”
“Tax the Rich,,,
Feed the Poor...
Til there are...
Rich no more”
Repeat.
Wait ?
What ?
Let me check my math.
Nevermind the math, just keep going.
This is a significant opportunity for the GOP. Too bad they’re going to blow it.
Me thinks that Obama is trying to appeal to his base of corporate executives and billionaires (you know the ones I mean) who are concerned with their high earnings being just too damn high when compared with the earnings of ordinary workers.
Being I’m an optimist most of the time I’d like to say you’re wrong but I couldn’t agree with you more.
What we need are $20 burger flippers/sarc
You could give each and every person on welfare $1 Million dollars in cash. By this time next year, 99% of them would again have nothing after blowing it all.
To think otherwise is sheer lunacy.
Optimism is the triumph of Hope over Experience. Experience tells me the GOP will not pick up the gauntlet and bash Obastard over the head with it. But I am ever hopeful they will anyway. It only takes one Pubbie to trip this clown up, and I think he’s a Senator from TX not named Cornyn.
Will he start with increasing output and productivity of those on the lower end of income?
oh I agree....by “political” I mean in terms of power - AND using it against its own citizens.
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