President Obama now says that the massive (and growing) gap in incomes across social classes is fraying the U.S. social fabric.
He added that racial tensions may get worse because people feel like their group must compete against others for the "scraps from a shrinking pot."
Obama wants to shift to encourage growth over "damaging austerity."
Part of his more progressive agenda will center on his appointment of the next CHairman of the Federal Reserve.
Who do you all think he will pick?
Speculation centers on Lawrence Summers, and Janet Yellen.