Rising inequality “is the defining issue of our time,” said President Obama in his Osawatomie speech that echoed the “New Nationalism” address Theodore Roosevelt delivered in that same Kansas town a century ago.

In the last two decades, the average income of the top 1 percent in the U.S. has grown by 250 percent, bemoaned our populist president, while the income of the average American has stagnated.

“This kind of inequality — a level we haven’t seen since the Great Depression — hurts us all,” said Obama.

“Inequality … distorts our democracy. … It gives an outsized voice to the few who can afford high-priced lobbyists … and runs the risk of selling out our democracy to the highest bidder.”

But is the president, a former disciple of radical socialist Saul Alinsky, truly serious about closing the inequality gap?

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