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Obama Rehashes Old Economic Speech Despite Record

President Obama gave an economic speech yesterday that mirrored many of his earlier statements on his goals for the economy. According to some observers the speech was near identical to others Obama has given.

You could be forgiven if you thought you had heard President Obama’s speech on the economy today before. Because you have. For most of the 2012 campaign. (Don’t trust us, read Obama’s 2012 acceptance speech at the Democratic National Convention.)…

And, it seems incredibly unlikely that this speech, which Obama gave some version of for virtually the entirety of his 2012 campaign, will change any GOP minds.

But if Obama is giving the same speech as before, perhaps a more important story is judging his record. Heidi Moore of the Guardian does just that.

Since President Obama took office in 2009, he has repeatedly sworn to tackle America’s economic malaise. “If President Barack Obama’s new focus on the economy sounds familiar, that’s because he’s done it before,” the Associated Press noted archly this week. “Obama has been launching—and re-launching—initiatives on the economy. Some came with new policy proposals, others with catchy slogans.”

Moore goes on to point out that from the minimum wage increase to manufacturing jobs to financial reform the Obama Administration is falling well short of its stated goals. Goals reiterated in yesterday’s speech.

The one area Obama has succeeded however is cutting the deficit. The post-stimulus spending retreats have cut the deficit as America pays off the private debts it made public with bailouts. Good job?

Meanwhile inequality and poverty have skyrocketed and all President Obama can do is try and fool the public into thinking the American Dream is still possible despite the evidence that social mobility is worse in America than elsewhere.

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Dan Wright

Dan Wright

Daniel Wright is a longtime blogger and currently writes for Shadowproof. He lives in New Jersey, by choice.