News / USA

Obama: US Economic Inequality a 'Defining Challenge'

President Barack Obama gestures as speaks at a White House Youth Summit event on December 4, 2013
President Barack Obama gestures as speaks at a White House Youth Summit event on December 4, 2013
President Barack Obama said Wednesday the income gap between the rich and poor in America, and the lack of upward mobility, remain the "defining challenge" for the nation's economic future.

The president's address was framed as a follow up to one he delivered two years ago about the challenges of income inequality and shrinking upward mobility.

At the time, less than a year before the 2012 presidential election, he also criticized opposition Republicans for what he called their desire to return to "the same policies that stacked the deck against middle class Americans."

As he prepares for new political battles over spending and other issues, Obama returned to the same themes about the threat to U.S. prosperity from the gap between rich and poor, and lack of opportunity.

"A dangerous and growing inequality and lack of upward mobility that has jeopardized middle class America's basic bargain, that if you work hard you have a chance to get ahead," said the president. "I believe this is the defining challenge of our time, making sure our economy works for every working American."

Obama spoke as polls show strong majorities of Americans disapprove of his handling of the economy, with numbers the lowest of his presidency.

Unemployment remains high at 7.3 percent.  The economy remains the biggest concern for Americans, despite record numbers on U.S. stock market exchanges.

The president renewed his call for increasing the minimum wage, and urged Congress to reach a "responsible" budget deal that eliminates harmful spending cuts known as the "sequester, and extends unemployment insurance.

He said important social programs for the jobless, seniors and the poor must be sustained, and the American "safety net" reinforced, while Social Security must be strengthened to ensure its promise for future generations. 

The president said public frustration with Washington is at an all time high because of the "admittedly poor execution" of his health care law, popularly known as "Obamacare," and blamed what he called the "reckless" government shutdown on congressional Republicans.

Obama challenged Republicans to propose "concrete plans" that would help reduce inequality, build the middle class and provide opportunity to the poor.

"If you still do not like Obamacare, and I know you do not, even though it is built on market-based ideas of choice and competition and the private sector, then you should explain how exactly you would cut costs, and cover more people and make insurance more secure," he said. "You owe it to the American people to tell us what you are for, not just what you are against."

In a written statement, Republican Speaker of the House of Representatives John Boehner said Obama's speech acknowledged "the failure of his economic policies."

Boehner also spoke on the House floor, asserting congressional Democrats are to blame for blocking Republican-sponsored legislation and "serious good faith efforts."

"Every single one of these bills has been blocked by Washington Democrats," he said. "The Senate [and] the president continue to stand in the way of the people's priorities."

On the budget, currently being negotiated by key lawmakers, Obama said, "We should not be stuck in a stale debate.  A relentlessly growing deficit of opportunity," he said, "is a greater threat to our future than a rapidly-shrinking fiscal deficit."

Obama's speech was also a preview of the sorts of themes he is likely to address in his State of the Union address next year.

You May Like

Video British Fighters On Frontline of ISIS Information War

It’s estimated that several hundred British citizens are fighting for Islamic State alongside other foreign jihadists More

Multimedia Hit Song Delivers Ebola Message in Liberia

'Ebola in Town' has danceable beat, while also delivering serious message about avoiding infection More

Video New Technology Gives Surgeons Unprecedented Views of Patients’ Bodies

Technology offers real-time, interactive, medical visualization and is multi-dimensional More

This forum has been closed.
Comment Sorting
Comments
     
by: Yoshi from: Sapporo
December 05, 2013 3:21 AM
Obama looks have been attempting a social revolution, that is, solution of economic inequality by offering equal chances to everybody and builing up large number of middle classes. Although I praise his democratic policy, a bit afraid he takes issues too easy for everybody to be able to work hard and succeed if they are guaranteed only oppotunity. If evertbody were gifted equally, Obama's ideal would come true.


by: wavettore from: USA
December 04, 2013 1:42 PM
In order to restore the financial equilibrium worldwide it will be enough to eliminate the concept of inheritance. The private property of the people will be returned to the State after the death of each individual to be auctioned among all citizens. People could spend as much as they want to educate their children but inheritance and donations would not be allowed. Also this is part of a new form of government without politician and ruled by referendum through the internet: Commutalism.

In Response

by: JB from: USA
December 04, 2013 11:35 PM
Sorry but the "state" or otherwise any government entity should not have any control over the private property of an individual and what they choose to do with their property/money when they pass on.

The issue with financial equality has more to do with the fact that executives and corporate honchos make millions a month now where they used to make tens of thousands 20 years ago. While the rest of the people that actually make a company profitable don't make much more than their parents did. All while these executives and corporate honchos bounce from company to company with the main goal of improving profits which directly affects their income by performing layoffs and outsourcing jobs to third world countries which causes more inequality. If corporations and big business were responsible and took care of their employees with their pay and benefits then we would have more equality... now I'm not saying those executives shouldn't make 100K or even 200K especially if they started the company from nothing. Those guys can make whatever they want so long as they started that company from nothing and it's privately owned. It's almost as bad a the charities these days... when 0.39 of every dollar actually goes to the needy (The Red Cross in 2009)... It's just a pyramid scheme now... everything is a get rich and keep it game from business to politics.

Realize that every time your boss tells you they actually care... question that... do they really care? Do they take a pay cut from 300K to 150K and give everyone else a raise, or health benefits? no they don't... they just tell you they care to get you to work harder for them, so they can make more money off you. But once you get fed up, it's oh so easy to replace you with the next idiot that thinks the boss actually cares.

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Native Bees May Help Save Cropsi
X
Deborah Block
August 22, 2014 12:23 AM
U.S. President Barack Obama has called for a federal strategy to promote the health of bees that have been declining. The honeybee has been waning due to parasites, disease and pesticides. Wild bees may be used to take over their role as crop pollinators. Scientists first need to learn a lot more about wild bees, says biologist Sam Droege, who is pioneering the first national inventory on native bees. VOA’s Deborah Block went to his research laboratory in Beltsville, Maryland, to bring you more.
Video

Video Native Bees May Help Save Crops

U.S. President Barack Obama has called for a federal strategy to promote the health of bees that have been declining. The honeybee has been waning due to parasites, disease and pesticides. Wild bees may be used to take over their role as crop pollinators. Scientists first need to learn a lot more about wild bees, says biologist Sam Droege, who is pioneering the first national inventory on native bees. VOA’s Deborah Block went to his research laboratory in Beltsville, Maryland, to bring you more.
Video

Video US Defense Officials Plan for Long-Term Strategy to Contain Islamic State

U.S. defense officials say American air strikes in Iraq have helped deter Islamic State militants for the time being, but that a broad international effort is needed to defeat the extremists permanently. Defense Secretary Chuck Hagel warned Thursday that the group formerly known as the Islamic State in Iraq and the Levant, or ISIL, is better organized, and financially and militarily stronger than any other known terrorist group. Zlatica Hoke has more.
Video

Video Drug-Resistant Malaria Spreads in Southeast Asia

On Thailand’s border with Myanmar, also known as Burma, a malaria research and treatment clinic is stepping up efforts to eliminate a drug-resistant form of the parasite - before it spreads abroad. Steve Sandford reports from Mae Sot, Thailand.
Video

Video Gaza Conflict, Hamas Popularity Challenge Abbas

The Palestinian unity government of Mahmoud Abbas has failed to convince Hamas to agree to Egyptian-negotiated terms with Israel on a Gaza cease-fire. VOA State Department Correspondent Scott Stearns reports on what the Gaza conflict means for President Abbas, with whom U.S. officials have worked for years on a two-state solution to the Israeli-Palestinian conflict.
Video

Video Nigeria's 'Nollywood' Movie Industry Rolls in High Gear

Twenty years after its birth in a video shop in Lagos, Nigeria's "Nollywood" is one of the most prolific film industries on earth. Despite low budgets and whirlwind production schedules, Nigerian films are wildly popular in Africa and industry professionals say they hope, in the future, their films will be as great in quality as they are in quantity. Heather Murdock has more for VOA from Lagos.
Video

Video UN Launches 'Biggest Aid Operation in 30 Years' in Iraq

The United Nations has launched what it describes as one of the biggest aid operations in 30 years in northern Iraq, as hundreds of thousands of refugees flee the extremist Sunni militant group calling itself the Islamic State. As Kurdish and Iraqi forces battle the Sunni insurgents, the fighting has forced more people to flee their homes. Kurdish authorities say the international community must act now to avert a humanitarian catastrophe. Henry Ridgwell reports for VOA from London.
Video

Video Cambodian American Hip Hop Artist Sings of Personal Struggles

A growing underground movement of Cambodian American hip hop artists is rapping about the struggles of living in urban America. Most, if not all of them, are refugees or children of refugees who came to the United States from Cambodia to escape the Khmer Rouge genocide of the 1970s. Through their music, the artists hope to give voice to immigrants who have been struggling quietly for years. Elizabeth Lee reports from Long Beach, California.
Video

Video African Media Tries to Educate Public About Ebola

While the Ebola epidemic continues to claim lives in West Africa, information technology specialists, together with radio and TV reporters, are battling misinformation and prejudice about the disease - using social media to educate the public about the deadly virus. VOA’s George Putic has more.

AppleAndroid