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October 23, 2016

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Weather Report
Wealthy Won't Succeed Without Broad Prosperity
Updated On: Mar 12, 2013

As President Obama said in his inaugural address, America “cannot succeed when a shrinking few do very well and a growing many barely make it.”

Not even the very wealthy can continue to succeed without a broader-based prosperity. That’s because 70 percent of economic activity in America is consumer spending. When most Americans are becoming poorer, they are less able to spend. Without their spending, the economy can’t get out of first gear.

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