When Barack Obama took the oath of office three years ago, no one associated the phrase “targeted killing” with his optimistic young presidency. In his inaugural address, the 47-year-old former constitutional law professor uttered the word “terror” only once. Instead, he promised to use technology to “harness the sun and the winds and the soil to fuel our cars and run our factories.”
RALEIGH-DURHAM, NORTH CAROLINA — In two small, unassuming offices here, Bob Robinson and Eric Buckland are quietly making heroic efforts to help the American middle class. But American capitalism — and the American government — serve them both poorly.
CHAPEL HILL, NORTH CAROLINA — At the age of 17, Holden Thorp placed fifth in a nationally televised Rubik’s cube competition on the ABC show That’s Incredible! At 24, he received a doctorate in chemistry from the California Institute of Technology after studying for three years instead of five. And at 43, he was named chancellor of the University of North Carolina at Chapel Hill, becoming one of the country’s youngest university presidents.
It didn’t take a penny in federal bailout money. It grew throughout the financial crisis. It has consistently garnered top customer service rankings. And Fortune magazine just named it one of the 20 best companies to work for in America. Meet America’s good bank: USAA.
Update: Given yesterday’s results in South Carolina, I clearly shouldn’t have called Romney the Republican party’s “presumptive nominee.” For a critical look at a Gingrich administration foreign policy, take a look at this analysis by The Atlantic’s Max Fisher. Here’s my Jan. 20th take on Romney’s foreign policy.
In a speech in Washington on Thursday, the chairman of President Obama’s Council of Economic Advisers said that the American middle class has been shrinking since 1970. Princeton University economist Alan Krueger said the American middle class shrank from 50.3 percent of American households in 1970 to 42.2 percent in 2010. Krueger defined the middle class as households with annual incomes within 50 percent of the national median income. Here is a table presented describing his findings.
WASHINGTON — As American officials scramble to contain the fallout from an appalling video showing Marines urinating on dead Taliban fighters, news that the Obama administration is carrying out secret negotiations with the Taliban has barely registered on the American political landscape. The lack of interest in the talks – and public outrage at the video – reflects how little Americans apparently care about the conflict, despite its staggering human and fiscal cost.
Update: The December job numbers released this morning continued the same trend described in yesterday’s column. Of the 200,000 new jobs created last month, 78,000 – or nearly 40 percent — were in transportation, warehousing and retail, sectors known for low pay and seasonal hiring. In a far more positive sign, manufacturing gained 23,000 workers in December after four months of little change. A vast expansion of that trend would benefit the middle class tremendously.