Essay On Economic Mobility

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On December 4th, 2013 in a speech at the Center for American Progress addressing the issue of Economic Mobility in the U.S. President Obama stated, “I believe this is the defining challenge of our time: Making sure our economy works for every working American. It’s why I ran for President. It was at the center of last year’s campaign. It drives everything I do in this office. And I know I’ve raised this issue before, and some will ask why I raise the issue again right now. I do it because the outcomes of the debates we’re having right now -- whether it’s health care, or the budget, or reforming our housing and financial systems -- all these things will have real, practical implications for every American. And I am convinced that the decisions we make on these issues over the next few years will determine whether or not our children will grow up in an America where opportunity is real”. The President’s remarks were in response to a growing concern in our country that income inequality has increased and lack of upward mobility has decreased. Too many citizens have incomes so low that they struggle to make end meet, and Americans are no longer sold on the concept of the “Land of Opportunity”, or the promise that if you work hard, you have a chance to get ahead.
Policy Problem
Economic mobility is defined as the ability of an individual or family to rise to a higher social or economic status, and is usually measured in income. Recent data suggest that economic mobility in the United States is declining, and that children born to poor families have an especially hard time moving up the income ladder. There is further information that indicates there are blunt differences associated with economic mobility and gender and econo...

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...edom provides opportunity for prosperity. These notions are the ethos of our great nation, however income inequality in America is increasing and the economic mobility of certain minority groups has stalled; thus for some folks the “American Dream” has become the “American Nightmare”. Sure, America is a much better country today than it was some decades ago, due in part to federal government policies put in place to ensure economic security. Several other factors can contribute to the achievement of economic mobility, but for all of us our advancement depends on opportunities to obtain human capital. Therefore, by expanding educational programs and filling the gaps in our public safety net, our nation can progressively become a better social democratic society, with a ground-breaking more flexible economy, that supports economic mobility and promotes fairness.

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