You're talking about the 30's? This was at the peak of the depression.
Americans before that had been climbing the ladder like crazy and the middle class was expanded because all kinds of industries had taken off. FDR and Obama had the same philosophy: kill off the middle class so the poor can not feel so bad about themselves. The poor is where Obama's main voter base lies so jealousy among the poor toward the middle class keeps him in office. Thus, stoking it has always been in Obama's best interest.
Some here seem to doubt this.