Obama Delivers Powerful Speech in Osawatomie, KS

President Obama in Osawatomie, Kansas--Photo by Charlie Reidel/AP

Whether one supports President Obama or feels he should serve a only one term, his speech on the economy today sounded a theme that resonates with conservative and liberal Americans alike: income inequality.  The choice of the small Kansas town served a dual purpose.  The President was speaking to the "Heartland", a typically conservative area of the country, yet hitting the mark with people who have suffered greatly since the economy nosedived in 2008.  He was also following in the footsteps of former President Theodore Roosevelt, who, in his 1910 speech in Osawatomie, called for a "square deal" for Americans based on a Progressive Party platform.  For readers who don't know much about the Progressive Party, I suggest you do some research.  That name has resurged this year as a possible third party.

Presenting to a crowd that had gathered at the high school gym to hear his speech, Obama declared, "This isn't just another political debate. This is the defining issue of our time. This is a make-or-break moment for the middle class, and all those who are fighting to get into the middle class."  He noted that after World War II, Americans were imbued with optimism and "believed in an America where hard work paid off, responsibility was rewarded, and anyone could make it if they tried — no matter who you were, where you came from, or how you started out.  These values gave rise to the largest middle class and the strongest economy the world has ever known."  He then discussed the myriad ways that the middle class has declined since America's heyday.

Obama disparaged any efforts to return to the failed practices that led to the financial debacle, which has hackled our economy for over three years.  He held big banks responsible for much of the crisis, saying there now exists "a deficit of trust between Main Street and Wall Street" and called for increased oversight and stronger regulations that would hold financial institutions accountable for their actions.  Further, he called on all Americans to engage in the political process and businesses to use fair practices in dealing with customers.

Ham on Wry eagerly awaits details President Obama will offer about specific ideas that can help our economy regain momentum and encourage a more vibrant middle class.