Obama tells rich: Keep your fancy homes

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.
President Barack Obama

President Barack Obama

NEW YORK — President Barack Obama tells hedge fund managers that they can keep their fancy homes and corporate jets.

In an interview with The Economist last week the President said when he brings up income inequality, he’s not trying to “stir class resentment” like his political opponents say.

“Feel free to keep your house in the Hamptons and your corporate jet … I’m not concerned about how you’re living,” he said.

However, he said he obsesses with the fact that under his watch those at the top are getting a larger and larger share of the economy, whereas middle-class and working-class families are stuck.

“Their wages and incomes are stagnant. They’ve been stagnant for almost two decades now,” he said.

Obama started his presidency amid the worst recession since the Great Depression, and he pointed out how much the country has improved since then.

“Our policies have produced a record stock market, record corporate profits, 52 months of consecutive job growth, 10 million new jobs, … an energy sector that’s booming, … a housing market that has bounced back, … I think you’d have to say that we’ve managed the economy pretty well,” he said.

Obama agreed that both his signature acts – healthcare and financial reform – could have been simpler. But he admitted elegance was hard to achieve in Washington.

“This goes back to the old adage of Churchill—democracy is the worst form of government except for all the alternatives,” he said. “It’s messy.”


  • SpamFace Plant

    From the hypocrite 1st test case president who doesn’t mind staying in Martha Vineyard properties, covertly buying big Hawaii property and sweetheart property deals in Chi thugtown. The left has been “fighting” the class war on poverty for how many decades and they have yet to deliver their constituents a leg up. Ah the perpetual self licking democratic voters ice cream cone….The party that would hate to see you succeed and move across the aisle to reason and logical thought.

  • jb

    Reason and logical thought would mean transparency in the white house. With all technological advances, we should be able to draft laws that are clear and reasonable. God knows THAT will never happen. But truly, that is the obvious direction we should go.

Comments are closed.