Leaked Obama Tape: ‘I Believe in Redistribution’

Comments come from 1998 speech at Loyola University

   

investorpoliticsletters2 Leaked Obama Tape: I Believe in RedistributionMatt Drudge, the journalist behind the right wing news site Drudge Report, has posted a link to a video featuring Barack Obama saying he believes in redistribution.

The video is actually a recording of a speech given by Obama in 1998 at Loyola University, in which he attempts to counter conservative arguments against assisting the poor. Towards the end of the clip, he can be heard saying, “I believe in redistribution, at least a certain level, to make sure that everybody has got a shot.”

Mitt Romney, facing heat for his own leaked comments, has used these newly leaked Obama comments as an opportunity to criticize Obama and draw attention away from what he said about certain Americans believing they were victims.

Earlier in the Obama video, the future president actually concedes some arguments that conservative politicians often make about government.

“Some of it has been deserved. The Chicago Housing Authority has not been a model of good policymaking. And neither necessarily have been the Chicago public schools.”

He then argued that the answer to criticism of government programs was to design programs better. “We do have to be innovative in thinking about what are the delivery systems that are actually effective and meet people where they live … ”

Of course, it’s that last line about redistribution, words that sound suspiciously socialist to many conservative voters, that Romney and Drudge jumped on.

For the complete audio from Obama’s 1998 speech, check out the video embedded below.

– Benjamin Nanamaker, InvestorPolitics Editor

The opinions contained in this column are solely those of the writer.

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