Barack Obama Warns American Dream Is in Danger of Becoming a ‘Myth’
Mr Obama said the country’s struggling middle classes had seen barely any rise in their income over the last decade, and that “upward mobility” was becoming harder and harder to achieve.
Citing Congressional gridlock over key measures such as immigration, tax reform and the continued failure to invest in education and infrastructure, the President accused Washington of staging an “endless parade of distractions” when it should have been taking action to kick-start growth.
He warned that if the US continued to “muddle along” then the American dream of betterment - the “founding precept” of each generation being wealthier than the last - would die a slow death.
“If that’s our choice - if we just stand by and do nothing in the face of immense change - understand that an essential part of our character will be lost,” he said.
“Our founding precept about wide-open opportunity and each generation doing better than the last will be a myth, not reality.”