President Obama told us in his December 4 economic coming out speech on inequality, which the Huffington Post called the most important speech of his Presidency, “But we know that people’s frustrations run deeper than these most recent political battles. Their frustration is rooted in their own daily battles – to make ends meet, to pay for college, buy a home, save for retirement. It’s rooted in the nagging sense that no matter how hard they work, the deck is stacked against them. And it is rooted in the fear that their kids won’t be better off than they were.”
That fear is well justified. Because without economic growth, their kids will not be better off than they were. And without economic growth, no matter how hard they work, they won’t get ahead. The fundamental problem was shown in the rest of President Obama’s economic inequality speech.
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