Obama: Anyone Claiming America's Economy Is In Decline Is Peddling Fiction

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In his final State of the Union address, President Barack Obama told the nation that anyone "claiming that America's economy is in decline is peddling fiction."

PRESIDENT BARACK OBAMA: Anyone claiming that America's economy is in decline is peddling fiction.

What is true, and the reason that a lot of Americans feel anxious, is that the economy has been changing in profound ways. Changes that started long before the great recession hit. Changes that have not let up. Today technology does not just replace jobs on a subway lines, but -- assembly lines, but any job where work can be automated.

Companies in the global economy can locate anywhere. They face tougher competition. As a result, workers have less leverage for a raise. Companies have less loyalty to their communities, and more, and more wealth and income is concentrated at the very top.

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