Democracy Now!

Season 2012 Episode 0125

Wednesday, January 25, 2012

Aired Unknown Jan 25, 2012 on Democracy Now!
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Episode Summary

Wednesday, January 25, 2012
In his last State of the Union speech before the November election, President Obama defended his record addressing the financial crisis and called for greater economic fairness. He warned that Wall Street would no longer be allowed to play by its own set of rules. But the bulk of the speech dealt with the economy. We get reaction from Jared Bernstein, former Chief Economist and Economic Adviser to Vice President Joe Biden and past member of President Obama’s economic team. Bernstein says that Occupy Wall Street "had a lot to do with" Obama’s message of economic fairness: "These issues are called populist now — frankly I think they are just basic fairness. I don’t know why it’s populist to argue that middle-class people should pay a fairer tax rate, one that is certainly no higher than that paid by millionaires and billionaires, or, for that matter, that economic growth should not be a spectator sport for people in the middle class. [These ideas] haven’t broken through in the way that Occupy Wall Street did in a matter of months. So, I give them a ton of credit." [Rush transcript to come. Check back soon.]moreless

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