I could only take a few minutes of President Obama’s speech today on the economy and income inequality. Lucky for us, John Hinderaker paid attention and tells you pretty much all you need to know about the latest pivot.
Today President Obama announced to an audience at the far-left Center for American Progress that he will spend the remainder of his term in office focusing on income inequality. He began by saying that middle-class Americans are struggling, and the American Dream is threatened. He is right. Statistics on the White House’s own web site indicate that since Obama took office, median family income has fallen, per capita income has dropped, and millions of Americans have been plunged into poverty. But Obama is like a weatherman: he takes no responsibility for the disasters he describes.
No one, not even a Democrat, would want to live in a country characterized by income equality. Obama, recognizing this, was quick to say that his concern is equal opportunity, not equality of outcomes. Yet his prescriptions were the same warmed-over liberal wish-list that we have heard in every State of the Union speech. Presumably for the last five years Obama has not been trying to stunt the economic development of the middle class or frustrate economic opportunity, yet that has been, empirically, the effect of his policies. Nowhere in Obama’s speech was there any acknowledgement that his policies have failed, or any willingness to re-think what policies will lead to economic growth and greater opportunity.