The issue of wealth and income inequality is the great economic issue of our time, the great political issue of our time, and the great moral issue of our time. It is an issue that we must confront in my nation and across the world.
If we want to grow the overall economy, if we want to create jobs, we have to put money into the hands of working people. We do not do that by imposing more austerity on people who already desperately are hurting.
I will soon be introducing legislation for a $1 trillion investment to modernize our country's physical infrastructure. This bill will create and maintain 13 million good-paying jobs.
There has been a lot of discussion about Congress enacting a “grand bargain” during the lame duck session of Congress. Many members of Congress have talked about using the plan put forward by Alan Simpson and Erskine Bowles as an outline for a “balanced” approach to deficit reduction.