I can just see them scrambling trying to figure what they can talk about to divert attention from Snowden and the NSA for a while. Widening income equality and upward mobility seems to be what they came up with. That was what Obama was Obama wanted to talk about in a 40-minute interview with the New York Times.
Upward mobility, Mr. Obama said in a 40-minute interview with The New York Times, “was part and parcel of who we were as Americans.”
“And that’s what’s been eroding over the last 20, 30 years, well before the financial crisis,” he added.
“If we don’t do anything, then growth will be slower than it should be. Unemployment will not go down as fast as it should. Income inequality will continue to rise,” he said. “That’s not a future that we should accept.”
It’s been eroding over the past 30 years. I wonder why he picked now to talk about it? I bet things are going to “change”!
The economy is “far stronger” than four years ago, he said, yet many people who write to him still do not feel secure about their future, even as their current situation recovers.
“That’s what people sense,” he said. “That’s why people are anxious. That’s why people are frustrated.”
No, Mr. President, that’s not what people “sense”. That’s the way things are.
Do the math and you’ll discover that the top 7% gained a whopping $5.6 trillion in net worth (assets minus liabilities) while the rest of lost $669 billion. Their wealth went up by 28% while ours went down by 4 percent.
Sorry, Mr. President, you’ve eroded all of your “good faith”.