Obama slams GOP on economics

President Obama, in one of his most expansive speeches to date, declared on Tuesday that supply-side economics is a failure and called “gaping inequality” across the country a moral shortcoming that is distorting American democracy.

Obama’s speech in Kansas was not just another attack on Congress, or a plea to pass his jobs bill. He did not roll out a new, snappy slogan – such as telling the audience that “we can’t wait” to enact new laws.

Instead, Obama delivered a searing indictment of Republican economic theory, setting the stage for the coming presidential campaign. Summoning the image of a populist Theodore Roosevelt — in the same town (Osawatomie) where Roosevelt delivered a famous speech on economic fairness in 1910 — Obama deployed the language of right and wrong, fairness and unfairness, in a lengthy address that aides said he largely wrote himself.

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