Full transcript: President Obama’s December 4 remarks on the economy
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It was Abraham Lincoln, a self-described poor-man’s son who started a system of land-grant colleges all over this country so that any poor-man’s son could go learn something new. When farms gave way to factories, a rich-man’s son named Teddy Roosevelt fought for an eight-hour work day, protections for workers and busted monopolies that kept prices high and wages low.
When millions lived in poverty, FDR fought for Social Security and insurance for the unemployment and a minimum wage. When millions died without health insurance, LBJ fought for Medicare and Medicaid. Together we forged a new deal, declared a war on poverty and a great society, we built a ladder of opportunity to climb and stretched out a safety net beneath so that if we fell, it wouldn’t be too far and we could bounce back.
And as a result, America built the largest middle class the world has ever known. And for the three decades after World War II, it was the engine of our prosperity. Now, we can’t look at the past through rose-colored glasses. The economy didn’t always work for everyone.
Racial discrimination locked millions out of poverty -- or out of opportunity. Women were too often confined to a handful of often poorly paid professions. And it was only through painstaking struggle that more women and minorities and Americans with disabilities began to win the right to more fairly and fully participate in the economy.
Nevertheless, during the post-World War II years, the economic ground felt stable and secure for most Americans. And the future looked brighter than the past. And for some, that meant following in your old man’s footsteps at the local plant. And you knew that a blue-collar job would let you buy a home and a car, maybe a vacation once in a while, health care, a reliable pension.
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