In the soaring State of the Union address that began his second term, President Obama challenged America to build “ladders of opportunity into the middle class.” It was more than a lovely turn of phrase. It conveyed the President’s vision of a nation in which everyone has a real chance to participate and prosper, and it pledged leadership at the highest levels of government to transform that vision into reality. The words drew upon the nation’s values and traditions, while calling on us to realize the promise of America by unleashing the potential in all our people.
From his first day in the White House, President Obama worked towards achieving this vision. It’s easy to forget that his presidency began in the depths of the Great Recession and the worst financial crisis in 80 years. President Obama recognized that bank bailouts, begun by his predecessor, were not enough to revitalize the economy, and they would do nothing to relieve the human suffering already caused by the financial collapse. In the administration’s view, economic growth and resilience required investments in America’s greatest asset—its people—and in the opportunities and resources everyone needs to thrive and succeed.