Author Topic: Obama: 'Profoundly unequal' economy a 'fundamental threat'  (Read 201 times)

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Offline flowers

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Obama: 'Profoundly unequal' economy a 'fundamental threat'
« on: December 04, 2013, 02:13:52 PM »

n 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, Anacostia.

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.

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