In his weekly radio and Internet address, delivered on Labor Day weekend, the president said the holiday is meant to honor "the great American middle class that has, for generations, made our economy the envy of the world." But, he noted, "I don't have to tell you that this is a very tough time for our country".
"Millions of our neighbors have been swept up in the worst recession in our lifetimes," he said. "And long before this recession hit, the middle class had been taking some hard shots. Long before this recession, the values of hard work and responsibility that built this country had been given short shrift".
Obama talked about middle class wage stagnation and criticized policy that allows U.S. companies to get tax breaks "for creating jobs overseas," as well as "Wall Street firms turned huge profits by taking, in some cases, reckless risks and cutting corners".
UPI
