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" "So let me repeat: The combined trends of increased inequality and decreasing mobility pose a fundamental threat to the American Dream, our way of life, and what we stand for around the globe. And it is not simply a moral claim that I’m making here. There are practical consequences to rising inequality and reduced mobility. For one thing, these trends are bad for our economy. One study finds that growth is more fragile and recessions are more frequent in countries with greater inequality. And that makes sense. When families have less to spend, that means businesses have fewer customers, and households rack up greater mortgage and credit card debt; meanwhile, concentrated wealth at the top is less likely to result in the kind of broadly based consumer spending that drives our economy, and together with lax regulation, may contribute to risky speculative bubbles.
Barack Hussein Obama II (born August 4, 1961) is an American politician who served as the 44th president of the United States of America from 2009 to 2017. Born in Hawaii, the son of a Kenyan father and a mother from Kansas, he won the 2008 presidential election and was re-elected president in November 2012. A member of the U.S. Democratic Party, he was the first African American president. Before becoming president, he represented the 13th district for three terms in the Illinois Senate from 1997 to 2004 and served as United States senator from Illinois between January 4, 2005 and November 16, 2008. While president, he was the recipient of the 2009 Nobel Peace Prize.
Biography information from Wikiquote
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Our best corporate citizens are also our most creative... Sixty years ago, when the Russians beat us into space, we didn’t deny Sputnik was up there. We didn't argue about the science, or shrink our research and development budget. We built a space program almost overnight, and twelve years later, we were walking on the moon. That spirit of discovery is in our DNA. We're Thomas Edison and the Wright Brothers and George Washington Carver. We're Grace Hopper and Katherine Johnson and Sally Ride. We're every immigrant and entrepreneur from Boston to Austin to Silicon Valley racing to shape a better world. And over the past seven years, we've nurtured that spirit.
I don’t know. What I can say for certain is that I’m not yet ready to abandon the possibility of America — not just for the sake of future generations of Americans but for all of humankind. For I’m convinced that the pandemic we’re currently living through is both a manifestation of and a mere interruption in the relentless march toward an interconnected world, one in which peoples and cultures can’t help but collide. In that world — of global supply chains, instantaneous capital transfers, social media, transnational terrorist networks, climate change, mass migration, and ever-increasing complexity — we will learn to live together, cooperate with one another, and recognize the dignity of others, or we will perish. And so the world watches America — the only great power in history made up of people from every corner of the planet, comprising every race and faith and cultural practice — to see if our experiment in democracy can work. To see if we can do what no other nation has ever done. To see if we can actually live up to the meaning of our creed.
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