"How do we give every citizen, rich or poor, a path to the good life?"
One critical part of the answer to President Obama's question is that we provide every young American with FREE TUITION as long as he or she gets the required grades in his chosen course work.
This is what they do in Norway (which has a large immigrant population). The benefits are clear:
Much of the great burden of psychological stress and the fear of pauperization is removed from the entire society.
Society is strengthened by producing the greatest possible number of highly educated scientists, technicians, and other workers.
The youth of the country is encouraged to look upward to achievement and success in their chosen vocations instead of looking downward in fear of bankruptcy and puperization.