President Obama on the GOP's "Ryan Budget":
In this country, broad-based prosperity has never trickled down from the success of a wealthy few. It has always come from the success of a strong and growing middle class.
That’s how a generation who went to college on the G.I. Bill, including my grandfather, helped build the most prosperous economy the world has ever known. That’s why a CEO like Henry Ford made it his mission to pay his workers enough so they could buy the cars that they made. That’s why research has shown that countries with less inequality tend to have stronger and steadier economic growth over the long run.
Now, the problem for advocates of this theory is that we’ve tried their approach -- on a massive scale. The results of their experiment are there for all to see.