A Quote by Barack Obama
This is where I think policies do need to be somewhat race-specific, is making sure that institutions are not discriminatory. So you've got something like the FHA [Federal Housing Administration], which was on its face a universal program that involved a huge mechanism for wealth accumulation and people entering into the middle class.
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Look at the [Bill] Clinton Administration and now the [Barack] Obama administration more recently. What we believe is that we implement policies that help people reach the middle class which is the cornerstone of our economy.
If, in [Federal Housing Administration] application, black folks were excluded from it, then you have to override that by going after those discriminatory practices.
Poverty is not something people impose on themselves for want of effort and community organisation. It is constructed by divisive and discriminatory laws, inflexible organisations, acquisitive ideologies of wealth, a deeply rooted class system and policies which serve privilege in the short term and destroy society in the long term.
The place where you got to get revenues has to come from the middle class. That's where the huge number of people that are there. So the system does need to be revamped [to tax the rich less and the middle class more.]
The sprinkling of people of color through elite institutions in the United States, due to affirmative action policies and the limited progress of middle-class and upper-middle-class African Americans, creates the illusion of great progress.
Do we want more of the same regulatory mission creep that has helped to harm America's poor and middle class? Do we want more of the policies that have stifled growth? Or do we want something else, something different, something that focuses on the need to reevaluate the size, the scope, the cost, the reach of the federal government?
People need to get involved in their neighborhood groups and the many housing reform groups that are out there. We need to hold our elected officials accountable and push them to create legislation that protects tenants and keeps people in their homes. Our governments - local, state and federal - also need to allocate resources to enforce the fair housing laws that are already on the books.
It's hard to improve our schools. It's hard to redistribute wealth created by the concentration of technological and financial power or to increase middle-class wages. But it might be easier to lower middle-class costs by building more housing.
What's happening is there's transfer of wealth from the poor and the middle class to the wealthy. This comes about because of the monetary system that we have. When you inflate a currency or destroy a currency, the middle class gets wiped out, so the people who get to use the money first, which is created by the Federal Reserve System, benefit, so the money gravitates to the banks and to Wall Street. That's why you have more billionaires than ever before.
Remember, America's greatness is based on creating wealth like the rest of the world has never known, and then, making sure it's shared throughout a middle class and even the underprivileged.
The Obama administration deserves credit for quickly ending the housing free fall. In particular, Obama empowered the Federal Housing Administration to ensure that households could find mortgages at low interest rates even during the worst phase of the financial panic.
The very idea that there should be a certain class of people who give orders by virtue of their ownership of wealth and another huge class who take on orders and follow them because of their lack of access to wealth and power, that's unacceptable. So, sure it should be abolished.
In my view, we need a massive federal jobs program which puts millions of our people back to work. We must end our disastrous trade policies. We need to raise the minimum wage to a living wage. And we have to fight for pay equity for women.
Making sure every child can read, making sure that we encourage faith-based organizations ... when it comes to helping neighbors in need, making sure that our neighborhoods are safe, making sure that the state of Texas recognizes that people from all walks of life have got a shot at the Texas dream but, most importantly, making sure that government is not the answer to people's problems.
The American middle class, it seems to me, is looking to politicians now to satisfy a pretty basic - and urgent - level of need. Yet people in the upper middle class - with their excellent health benefits, schools, salaries, retirement plans, nannies and private afterschool programs - have journeyed so far from that level of need that, it often seems to me, they literally cannot hear what resonates with the middle class. That creates a problematic blind spot for those who write, edit or produce what comes to be known about our politicians and their policies.
I think we need to make sure that we are putting Social Security on a sustainable path. It's absolutely something that the federal government is going to be involved in, in the future.
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