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A new book shows that “the biggest obstacle now that we face is not the global economy.” According to David Leonhardt, chief U.S. economist at Goldman Sachs, President Obama promised “a better and broader economy” in his 2008 campaign and in the first year of his presidency. Not a single word was uttered about “the big job,” though Leonhardt has a point that the economy has been improving for all but a few special-interest groups.
We need to look at what has been happening to all those things President Obama has promised: more jobs, better wages, a fairer tax code, less corporate power, more “reform”—and, of course, more war. What he hasn’t done is to put America back to work building its economy again.
President Obama’s rhetoric on rebuilding the economy does not match what is happening on the ground. As Leonhardt documents, the economy has been shrinking. The unemployment rate is high,
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