NO State of Mind
- Jul 23, 2001
- Reaction score
No, really, it's the title of this article in The Atlantic. It's an interesting read. I view Obama's presidency favorably, but I never considered his legacy to be one of fighting income inequality. The article makes the case that it is.
A new examination from the Council of Economic Advisers credits the Obama presidency for the most aggressive and successful attempt to reduce inequality in half a century. “President Obama has overseen the largest increase in federal investment to reduce inequality since the Great Society,” the economists write.
One might immediately think to dismiss such a report as shameless self-promotion from the White House. But the nonpartisan Congressional Budget Office (CBO) reached the exact same conclusion in June. It found that the federal government is doing more to reduce inequality right now than any time on record, going back at least 35 years. The gap between the rich and poor is as wide as ever judging by before-tax income (e.g., wages and capital gains). But judging by after-tax income, the CBO found that income inequality is no higher than it was in 2000, and Obama’s policies have done more to reduce inequality in the last few years than any other time on record.*
In other words, Obama’s economic policies have fought the stubborn forces of economic inequality to something of standstill. How has he done it? President Obama’s anti-inequality crusade has three main pillars.
Obama Is the Greatest Force for Equality in 50 Years - The Atlantic