"I don't care whether you're a Republican or a Democrat or an Independent. Why would you do that? Less oversight on Wall Street would only make another crisis more likely," Obama said. "How can you say you're for the middle class and then you want to tear down these rules?"
"Don't think that actually this agenda is going to help you," Obama continued. "It's not designed to help you. And the evidence of the last 30 years, not to mention common sense, should tell you their answers to our challenges are no answers at all."
The U.S. economy grew at its weakest quarterly pace in two years between the months of January and March of 2016, government data showed, as consumers and businesses alike showed new caution with their spending.
The nation’s gross domestic product expanded just 0.5 percent on an annualized pace. Businesses cut back on investments with a severity not seen since the financial crisis.
The U.S. economy only added 38,000 jobs in May, according to the Labor Department. It was the worst monthly job gain since 2010.
It's also well below April's meager job gains of 123,000. Job creation in the last two months has been markedly below the average of 200,000 jobs created per month over the past couple years.
A drop in unemployment came as more disheartened Americans stopped looking for jobs and dropped out of the labor force in May.
In May, the civilian labor force participation rate decreased by 0.2 percentage point to 62.6 percent. The rate has declined by 0.4 percentage point over the past 2 months.
The number of persons employed part time for economic reasons (also referred to as involuntary part-time workers) increased by 468,000 to 6.4 million in May, after showing little movement since November. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.
Obama’s progressive economy is working. The progressives do not want a robust economy. Marx explained to his disciples that an economy that grows faster than the population just enriches the capitalist. The economy should grow at or below the rate of the population Marx said. Obama is accomplishing this goal.
An economy that is free from regulation and government control grows based on the demands of the market and not the dictates of government central planners. Regulation of production or government ownership of production is essential in a socialist economy as Marx explained. Obama has been very successful in regulating the economy and bringing about central planning.
Private industry is not producing many jobs and those it is producing are low income and part time. 468,000 people dropped out of the work force in May. Many of these will have to become dependent on the state in order to survive. Private property (income) will be taken from those who are working and given to those who are not. This is exactly what Marx said was necessary to bring about a fair and classless society. Obama is accomplishing this goal.
The more people Obama and the Marxist/Progressives can enslave and make wards of the state, the more votes they have captured. This is critical if Obama is to keep his promise that he will fundamentally transform the United States from a free society to a totalitarian Marxist state ruled by the Dictatorship of the Proletariat.
Obama should be thrilled with the economy. It is accomplishing his goal.