Policy: Economy

Obama: Less opportunity in America than five years ago

By |
Beltway Confidential,Joel Gehrke,Barack Obama,Economy,Analysis

President Obama told an Illinois audience that vicious trends in the United States “winner-take-all” economy have diminished the economic opportunities available to Americans.

“The trend of a winner-take-all economy, where a few are doing better and better and better,” Obama said, “those trends have been made worse by the recession. This growing inequality — not just of result, [but] inequality of opportunity — it’s not just morally wrong; it’s bad economics.”

Obama then faulted Republicans for opposing Obamacare, “despite the fact that our businesses have created nearly twice as many jobs in this recovery as they had at the same point in the last recovery, when there was no Obamacare,” as his prepared remarks have it.

He plans to do a series of economic speeches throughout the country. “What we need isn’t a three-month plan, or even a three-year plan, but a long-term American strategy, based on steady, persistent effort, to reverse the forces that have conspired against the middle class for decades,” Obama said in his prepared remarks.

View article comments Leave a comment