More child care, more elder care, more defined entitlements tor people who have incomes up to $85,000.
Who pays for that? Where does this money come from?
Student loans, federal loan payments will be subsidized by taxpayers. Who pays for that?
What happened to jobs, jobs, jobs?
The government is going to add money to IRA's. Where does that money come from?
Do we borrow it from the Chinese or do we extract it from the productive part of the economy?
Let me make this simple. Any entitlement guaranteeing a payment to an entitled group is a tax on the economy and a transfer payment. It is a burden on production. Any financial burden on the private sector will have a reduction on the purchase of capital or the employment of labor.
Listen to Obama at the latter part of this clip.
He is burdening the economy with entitlements on top of entitlements.
Furthermore he is saying that for people to have real security, he will forgive student debt if they go into government service. He is giving economic incentives to create more government workers, a group that already makes more money than the so called middle class in the private sector.
I can already hear the industry planners rushing to create new jobs in India and China.
If Obama/Biden believe this, they are fools, more than likely they do not and are knaves. Either way Obama is heading a job killing, government expanding, economy wrecking machine. He knows nothing about the working of the American economy or private industry.
Obama talks in the Marxist dialect of class, seeing America in terms of class warfare with the downtrodden and the the middle class against the oppressors above them.
To Obama, it is no longer possible for Americans to get ahead without a government cushion. Better yet, to Obama, he wants special privileges for those that swell the ranks of government, something he actually does understand.
Obama does not have to figure out how to improve the middle class. He needs to understand that the best he can do, is to take away the government impediments to middle class people improving themselves.
Obama and his ilk do not see the long term harm done to people that are trained from pre-school to depend on government welfare. They do not see the connection.
Here is a prime example:
CHICAGO (Reuters) - The U.S. economic recession has taken a particularly heavy toll on young Americans, with a record one out five black men aged 20 to 24 neither working nor in school, according to research released on Tuesday.
Teenagers have found it significantly harder to get a job since the recession began in late 2007, with black youths and young people from low-income families faring the worst, wrote Andrew Sum of Northeastern University in Boston, a employment researcher commissioned by the Chicago Urban League and the Alternative Schools Network.
"Low-income and minority youth, who depended on part-time jobs as a significant stepping stone to future employment, have been forced out of the job market and economically marginalized," Herman Brewer of the Chicago Urban League said in a statement.
Overall, 26 percent of American teenagers aged 16 to 19 had jobs in late 2009, said the report, which was based on U.S. Census Bureau data. That figure is a record low since statistics began to be kept in 1948, the researchers said.
Employment counts the number of people with a job as a percentage of the entire work force. By contrast, the unemployment rate -- which stood at 10 percent in December in the United States -- does not include people who have grown discouraged and stopped looking for work.
Joblessness was particularly rife among high school dropouts aged 16 to 24 who were neither in school nor holding a job, the report said. Family income also had a influence on joblessness.
Only 13 percent of low-income black teenagers in Illinois held a job in 2008 compared with 48 percent of more affluent white, non-Hispanic teens.
The "disconnection rate" -- Americans aged 20 to 24 who were neither in school nor working -- jumped to 28 percent last year from 17 percent in 2007.
"If you included those in prison it would be a couple of points higher," the report's co-author Joseph McLaughlin of Northeastern.
Among the proposals the report supported were government-funded jobs programs directed at the young, additional funding to help re-enroll school dropouts, and government-funded expansions of work internships.