I could go on and on about the nonsense in that speech, and may at another time, but one bit of populist bullsh*t should be addressed first. This bit about a living wage.
Our President, who's never held an actual hourly pay job in his life, is woefully ignorant on the history of wage and labor (along with the Constitution and the history that helped create it, but that's another post too) in this country. Minimum wage was not created to allow a single wage earner the ability to maintain a family of four in comfort. Minimum wage (usually coupled together as wage & hour laws) was brought into existence to combat the menace of sweatshop labor that cropped up prior to and subsequent to the Great Depression.
Along with child labor laws, the government sought to protect workers, desperate for any sort of payday, from being taken advantage of by unscrupulous employers. A base wage, along with restrictions on hours worked per week, right to overtime, etc., helped put an end to sweatshop labor in this country.
Despite inflammatory rhetoric to the contrary, I doubt you would be able to find those conditions anywhere in the United States today.
If liberal/socialists were really interested in creating a minimum wage to support a family of four, then why aren't they pushing for the minimum wage to be tripled? I would think that $45,000 per year would be the base to support a four person family. And that would have to be indexed for cost-of-living in whatever area you lived in. Because $45k in Florida is a hell of a lot different than $45k in New York, or Chicago, or LA, of Hawaii.
So why aren't liberal/socialists pushing for this? Because they don't really care. All they want is the populist rhetoric to inflame low information voters. The Republicans, and the RNC (I'm looking at you Reince) need to get busy on social media and elsewhere driving this home. We've got two years to lay the ground work to beat the Dems for the White House in 2016 (I'm still thinking Hillary is just a stalking horse for fauxcahontas) and they can't wait until the last minute to educate the masses on the lies of these liberal/socialists.
And apropos of nothing, Iggy Azalea decided to take her comically huge white girl ass out in short shorts that were totally not up to the task yesterday: