Obama: Trickle-Down Economics Rewarded the Wealthy; Hurt the Middle Class

“As a trickle-down ideology became more prominent, taxes were slashed for the wealthiest, while investments in things that make us all richer, like schools and infrastructure, were allowed to wither. And for a certain period of time we could ignore this weakening economic foundation, in part because more families were relying on two earners, as women entered the workforce. We took on more debt, financed by a juiced-up housing market. But when the music stopped and the crisis hit, millions of families were stripped of whatever cushion they had left. And the result is an economy that's become profoundly unequal, and families that are more insecure.”