In his recent State of the Union speech, President Obama extolled the virtues of "middle class economics," as a means of spurring economic growth and creating a more inclusive economy. Just what this entails is unclear, but President Obama says this "means helping folks afford child care, college, health care, a home, retirement, and my budget will address each of these issues, lowering the taxes of working families and putting thousands of dollars back into their pockets each year." On closer examination, the policy agenda the president is laying out is a tired mix of class warfare, new taxes, and more government spending.