(Originally published as “Obama and the Future of the Democratic Party”)
President Obama achieved some remarkable things during his eight years. Action on income and wealth inequality were not among them. He surrounded himself, especially on the economic front, with people who had direct connections to Wall St. or academic economics. He famously made a speech in 2013 announcing that income inequality was “the defining challenge of our time”.1 Then, faced with attacks from within the Democratic Party and all Republicans that he was engaging in “class warfare”, he beat a hasty retreat. The rhetoric was trotted out but he proposed nothing and did nothing.
Citibank and Obama’s Cabinet
- https://obamawhitehouse.archives.gov/the-press-office/2013/12/04/remarks-president-economic-mobility [↩]