President Obama remarked that we should not be engaged in policies that degrade the middle class and our standard of living. He called this a “race to the bottom:”
“The truth is, we’ll never be able to compete with other countries when it comes to who’s best at letting their businesses pay the lowest wages or pollute as much as they want. That’s a race to the bottom that we can’t win – and shouldn’t want to win. Those countries don’t have a strong middle-class. They don’t have our standard of living.”
