President Obama spoke this morning about growing income inequality in America, calling the issue the “defining challenge of our time.” Income inequality and growing public support for minimum wage increases have been making the news often the last few weeks, from Seattle to DC and everywhere in between.
Here on The Sockeye, we’ve been discussing Slate’s article debunking the myth that the rich create jobs.
“The growing gap between rich and poor Americans is threatening the ideals the country was founded upon, President Barack Obama said in remarks Wednesday that appeared to signal a leftward turn in his economic agenda. Making sure that the U.S. economy works for every working American is “the defining challenge of our time,” Obama said in a speech at the Center for American Progress, a liberal think tank. He later said the “dangerous and growing” income and opportunity gap is jeopardizing the notion that if people work hard, they can get ahead.”
Income inequality ‘challenge of our time’ Obama says
“President Obama tried Wednesday to turn the conversation back to the economy, calling the growing income gap the “defining challenge of our time.” “Some of you may have seen just last week the pope himself spoke about this at eloquent length,” Obama said. “How can it be, he wrote, that it’s not a news item when an elderly homeless person dies of exposure, but it is news when the stock market loses two points. But this increasing inequality is most pronounced in our country. And it challenges the very essence of who we are as a people.” As Mark wrote last week, Pope Francis in an apostolic exhortation wrote that too many people are treated as “consumer goods to be used and then discarded.”"
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