Obama: Consider a universal basic income

In his first major speech since leaving office, former President Barack Obama endorsed the idea of providing a universal basic income.

Speaking at the Nelson Mandela Annual Lecture in South Africa on Tuesday, Obama raised the notion of guaranteed income as a way to reduce what he called "yawning disparities" in wealth, education, and security across different socioeconomic groups.

"It's not just money that a job provides," said Obama. "It provides dignity and structure and a sense of place...

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