Afro FM 105.3: Obama urges economic fairness in State of the Union

Obama urges economic fairness in State of the Union
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Henok  on 26/01/2012 08:16:00
 
Mr Obama emphasized the importance of an economy that works for everyone, in the
nationally televised address to Congress. The speech saw a renewed call for
higher taxes on the wealthy, something Republicans strongly oppose.  According
to the BBC, the US economy is on the mend, but unemployment remains high at
8.5%. The annual State of the Union address - one of the most keenly watched
events in US politics - traditionally includes policy prescriptions from the
White House for the upcoming year. President Obama's speech on Tuesday in the
Republican-dominated House of Representatives was delivered with an eye on
November's presidential election, when he will seek another four years in
office.  Mr Obama said the economy was bouncing back from the 2007-09 recession.
Mr Obama also made a renewed call for his Buffett Rule - a principle that
millionaires should not pay a lower tax rate than typical workers. The idea is
named after billionaire investor Warren Buffett, who famously complained that
his secretary pays a higher rate of tax than he does. Republicans have
repeatedly rejected Mr Obama's call for higher taxes on the wealthy and accuse
him of resorting to class warfare to get elected again. President Barack Obama
finished his state of the Union speech by praising the mission to kill Osama Bin
Laden.  (BBC)