Obama told Leftist that he is all about the poor. He made the distinction between Wall Street and Main Street like no other.
As was told to Hedley Lamar on Blazing Saddles, “You talk purdier than a $20 whore!”
Obama gave flowery speeches criticizing those who profiteered on the backs of “ordinary citizens,” as he attended the $40,000 a plate fundraisers hosted by the very men he criticized.
And as with all things Obama, it was all a ruse.
Federal Reserve chief Janet Yellen warned recently that the gap between the rich and poor in the United States is widening and is near the highest levels seen in 100 years. I don’t know the numbers before we reached Third World status, but I do know that under Obama we moved towards that faster than at any time in history.
According to Yellen:
“By some estimates, income and wealth inequality are near their highest levels in the past hundred years,”
The only thing that slowed that widening down they say was the 2008 recession. But then America’s wealthy were blessed with the money-hungry, power-hungry fraud who is now president, and the sale of America’s citizens began at a rate that would make Walmart proud.
Obama begged Bush to bail out the banks, and Bush obliged. Obama bailed out the auto-industry, even clearing the way with the failed Cash for Clunkers. The recession allowed the very wealthy to scheme with lecherous Leftists, and now they are feasting.
Obama is propping up the stock market with Quantitative Easing II, still printing over $65 billion a month. He could just as easily give this money directly to his cronies, if it were for the greedy middle-man…the Fed.
“But widening inequality resumed in the recovery, as the stock market rebounded….wage growth and the healing of the labor market have been slow, and the increase in home prices has not fully restored the housing wealth lost by the large majority of households for which it is their primary asset.”
In the end, poor people can’t move up and in fact can’t move at all. They are stuck like chuck. But it’s not limited to the poor. This Obama economy impacts the middle class, as well as those who would like to move into the middle class, specifically the Millennials.
Instead of jobs, the Millennials are unemployed and have the burden of student loan debt, which quadrupled between 2004 and 2014.
Put simply, Obama has created more poverty than any president, and he is kryptonite for the poor. But he is delusional enough to believe that his policies work. He just needs more time.