A top economic adviser to New Jersey Gov. Chris Christie challenged President Obama’s assertion that inequality is the “defining challenge of our time” in an op-ed published in the Wall Street Journal on Monday, writing that “like so many of his other pronouncements, the assumptions behind his defining challenge are misleading.”
Robert Grady, a managing director at the private equity fund Cheyenne Capital Fund and the chairman of Christie’s Council of Economic Advisers, also sketched out an alternative economic agenda to the one Obama mentioned in his Dec. 4 speech on the economy and inequality at an event in Washington hosted by the Center for American Progress. Christie, who won a second term in a landslide election this fall, is widely considered a leading potential candidate for the Republican presidential nomination in 2016.
In his Dec. 4 speech, Obama warned that “the combined trends of increased inequality and decreasing mobility pose a fundamental threat to the American dream, our way of life and what we stand for around the globe,” noting that “the income of the typical family has increased by less than 8 percent” since 1979.
Obama also promised that “over the course of the next year and for the rest of my presidency, that’s where you should expect my administration to focus all our efforts,” and listed a number of agenda items for boosting economic growth that would boost all income levels.
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