News / USA

Obama: Economic Inequality Has Deepened

TEXT SIZE - +
VOA News
U.S. President Barack Obama says economic inequality has deepened in America, even though the country has experienced four years of economic growth with 8 million new private sector jobs.

Obama said in his weekly address Saturday it is "time to restore opportunity for all people."

He said the opportunity agenda he presented in his recent state of the union address has four parts -- more new jobs, training to fill those jobs, a world-class education for every child, and a liveable wage for every man and woman.

Watch President Obama's weekly address:



President Obama said implementing the agenda would require cooperation from Congress, but the president, who leads the Democratic Party, said he would "take steps" on his own when he could to expand opportunity for more families.

In the Republican address, four members of the House of Representatives where their party is the majority, urged Obama to support bills on jobs, medical research, compensation and energy. Representative Fred Upton said the Senate, controlled by Democrats, was standing in the way.

Watch weekly Republican address:

You May Like

Video Pope Francis Hopes Dual Canonizations Will Reconcile Church

John the XXIII and John Paul II will be made saints in a ceremony at St. Peter’s Square on April 27 More

Thailand Reacts to Plots Targeting Israelis

Authorities hope arrest of two Lebanese suspects will disrupt plot to attack young Israeli tourists More

Video In Capturing Nature's Majesty, Film Makes Case for Its Survival

'Once Upon a Forest' takes viewers deep into heart of tropical rainforest More

This forum has been closed.
Comment Sorting
Comments
     
by: MikeBarnett from: USA
February 04, 2014 5:18 PM
I pointed out yesterday that the rich cannot drive the US economy, but it was not posted. If you look at the top 10% instead of the top 1%, they will not eat 30 eggs for breakfast each day, wear 10 suits of clothes each day, or drive 10 cars each day. The rich will not shop in enough stores to drive the US economy forward. That is the first problem with income inequality.

The next problem is the ACA that will take a minimum of $105 each month from each person in the USA. Annually, that comes to $1260 per person times 320 million people or $400 billion that is 2.5% of US GDP each year. Most poorer people will respond to the loss of money by spending less in stores. The US must produce more than 2.5% growth to overcome the 2.5% drag of the ACA to avoid negative GDP growth that would be a recession.

The results are that the economy pays for the US military and develops and pays for the military's technological tools. The US has suffered two expensive and badly fought wars, numerous costly interventions, and three technology, corporate, and financial scandals. Economic inequality reduces the US capacity for economic recovery. The US economy pays for its military capabilities and the diplomatic and economic soft power of the US, so the US will have fewer resources with which to address international problems and must learn how to accomplish more with less.

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Pope Francis Hopes Dual Canonizations Will Reconcile Churchi
|| 0:00:00
...
 
🔇
X
Jerome Socolovsky
April 22, 2014 4:14 PM
On April 27, two popes - John the XXIII and John Paul II - will be made saints in a ceremony at St. Peter’s Square. VOA religion correspondent Jerome Socolovsky says the dual canonization is part of the current pope’s program to reconcile liberals and conservatives in the Roman Catholic Church.
Video

Video Pope Francis Hopes Dual Canonizations Will Reconcile Church

On April 27, two popes - John the XXIII and John Paul II - will be made saints in a ceremony at St. Peter’s Square. VOA religion correspondent Jerome Socolovsky says the dual canonization is part of the current pope’s program to reconcile liberals and conservatives in the Roman Catholic Church.
Video

Video In Capturing Nature's Majesty, Film Makes Case for Its Survival

French filmmaker Luc Jacquet won worldwide acclaim for his 2005 Academy Award-winning documentary "March of the Penguins". Now Jacquet is back with a new film that takes movie-goers deep into the heart of a tropical rainforest - not only to celebrate its grandeur, but to make the case for its survival. VOA's Rosanne Skirble reports.
Video

Video Boston Marathon Bittersweet for Many Runners

Monday's running of the Boston Marathon was bittersweet for many of the 36,000 participants as they finished the run that was interrupted by a double bombing last year. Many gathered along the route paid respect to the four people killed as a result of two bombings near the finish line. VOA's Carolyn Presutti returned to Boston this year to follow two runners, forever changed because of the crimes.
Video

Video Pacific Rim Trade Deal Proves Elusive

With the U.S.-led war in Iraq ended and American military involvement in Afghanistan winding down, President Barack Obama has sought to pivot the country's foreign policy focus towards Asia. One aspect of that pivot is the negotiation of a free-trade agreement among 12 Pacific Rim nations. But as Obama leaves this week on a trip to four Asian countries he has found it very difficult to complete the trade pact. VOA's Ken Bredemeier has more from Washington.
Video

Video Robotic Mission Kicks Up Lunar Dust

A robotic mission to the moon was deliberately crashed onto the lunar surface late last week, but not before scientists had collected data gathered by the spacecraft which was designed to self-destruct. VOA's Rosanne Skirble reports on the preliminary findings of the craft, called LADEE - an acronym for Lunar Atmosphere and Dust Environment Explorer.
Video

Video Boko Haram Claims Responsibility for Bombing in Nigerian Capital

The Nigerian militant group known as Boko Haram has claimed responsibility for a bombing in the capital on April 14th that killed 75 people. In the video message, Abubakar Shekau, the man who says he ordered the bombing, says nothing about the mass abduction of more than 100 teenage girls, most of whom are still missing. Heather Murdock has more for VOA from Abuja.
Video

Video Ukraine Developments Hang Over Obama Trip to Asia

President Barack Obama's trip to Asia this week comes as concerns over Beijing's territorial ambitions are growing in the region. Those concerns have been compounded by Russia's recent actions in Ukraine and the possibility that Chinese strategists might be looking to Crimea as a model for its territorial disputes with its neighbors. VOA's Bill Ide has more from Beijing.
Video

Video Autistic Adults Face Housing, Job Challenges

Many parents of children with disabilities fear for the future of their adult child. It can be difficult to find services to help adults with disabilities - physical, mental or emotional - find work or live on their own. The mother of an autistic boy set up a foundation to advocate for the estimated 1.2 million American adults with autism, a developmental disorder that causes communication difficulties and often social difficulties. VOA's Faiza Elmasry reports.
AppleAndroid