President Obama will deliver remarks on the economy today in an address sponsored by the leftist Center for American Progress. According to CNN, the president will acknowledge that the U.S. economy is still struggling to recovery from the downturn of 2008 and will argue that a hike in the nation’s minimum wage is the best move to help the middle class:
“President Obama will discuss the twin challenges of growing income inequality and shrinking economic mobility and how they pose a fundamental threat to the American Dream,” a White House official said late Tuesday in describing the speech, adding the remarks would serve as an economic blueprint for the president’s final three years in office.
Democrats on Capitol Hill have pushed an increase in the federal minimum wage, which currently stands at $7.25 an hour. A proposal would boost it to about $10, and the White House has said Obama supports such a measure.