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President Obama has a lot on his plate, including the continued challenge of the Affordable Care Act rollout, the ongoing civil war in Syria and heightening tensions between China and Japan. However, the president is looking to focus the spotlight on an important agenda item that rarely makes the news – the growing income inequality in America. Politicians of both parties often pay lip service to the disturbing divide between the wealthiest and poorest Americans, but, as yet, no sweeping policies for change have gotten a lot of traction. On Wednesday, December 4th, President Obama called income inequality, “The defining challenge of our time.” The middle class has been feeling the crunch for some time as higher-paying, low-education jobs have been flowing overseas, and employers are hesitant to hire even in the face of the improving economy. It is good to see that the president is trying to bring attention to this issue, but the problem is so big and so pervasive that solutions will need to come from the government and the private sector. The president has already spoken of raising the minimum wage, closing tax loopholes and encouraging businesses to keep more jobs in America, but so far these ideas have yet to be turned into concrete legislation. It will be interesting to see if 2014 will bring any definitive legislation to address the needs of the many working class Americans who are struggling just to stay afloat. Wealth and Wisdom Online Financial Advisor,Your personal CFO will provide you with the right solution that fits your lifestyle and financial planning. Our step by step process makes it easy for anyone to achieve their financial goals.
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