Barack Obama — in his final presidential State of the Union address — claimed that though “a lot of Americans feel anxious,” the current state of the American economy is not in decline.
“Anyone claiming that America’s economy is in decline is peddling fiction,” the president notes in prepared remarks released to the press. “What is true – and the reason that a lot of Americans feel anxious – is that the economy has been changing in profound ways, changes that started long before the Great Recession hit and haven’t let up.”
Still, Obama says that American “workers have less leverage for a raise,” and “companies have less loyalty to their communities,” which together result in “more wealth” being concentrated at the “very top” of the economic stratosphere.
Finally, the president’s remarks notes that in 2016, it is be “harder for a hardworking family to pull itself out of poverty, harder for young people to start on their careers, and tougher for workers to retire when they want to,” and that these trends “offend our uniquely American belief that everybody who works hard should get a fair shot.”