Joe Biden: Economy Not Growing Because ‘Ordinary People Have No Money in Their Pockets’

Speaking today at Detroit's Labor Day parade gathering in Detroit, Mich., Vice President Joe Biden said today's economy is not growing because "ordinary people have no money in their pockets":

"You know there is an outfit called Standard and Poors, the leading financial services group. It says, 'You want U.S. income inequity has reached levels not seen since 1928.' That means the very, very top 1 percent are making so much more disproportionate to the rest of the public. So a lot of the wealthy guys say 'So what?' Well they want on to say, and I quote, 'Extreme levels of income inequity lead to sustained harm to economic growth and other, over a long period of time' -- it says, 'the U.S. is approaching the threshold.' One of the reasons we're not growing is because ordinary people have no money in their pockets for their wages! They are not being rewarded!"