It's true that government cannot prevent all the downsides of the technological change and global competition that are out there right now, and some of those forces are also some of the things that are helping us grow. And it's also true that some programs in the past, like welfare before it was reformed, were sometimes poorly designed, created disincentives to work. But we've also seen how government action time and again can make an enormous difference in increasing opportunity and bolstering ladders into the middle class. Investments in education, laws establishing collective bargaining, and a minimum wage — these all contributed to rising standards of living for massive numbers of Americans.

Remarks on Economic Mobility (December 2013)