'When President Obama declared in December that gross inequality is the “defining challenge of our time,” he was right, and resoundingly so. As is his habit, however, he quickly backed away from the idea at the urging of pollsters and various Democratic grandees.
'I can understand the Democrats’ fears about venturing into this territory. It feels like a throwback to an incomprehensible time — to a form of liberalism that few of them understand anymore. Unfortunately, they really have no choice. Watching first the way the bankers steered us into disaster in 2008 and then the way they harvested the fruits of our labored recovery — these spectacles have forced the nation to rediscover social class, and as we dig deeper into the subject we are appalled to learn what has been going on for the last three decades.'
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