REALLY OBAMA. . .this is HOPE for BLACKS?
For some, the current financial mess is more than a recession, it borders on the Great Depression, and especially hard hit in some areas are African Americans.
In Charlotte, NC, the unemployment for blacks is twice that of whites, in an area that once offered real opportunity to blacks with a 4 year degree.
The Economic Policy Institute reports that unemployment among black people in Charlotte is over 20% if you add in people that have stopped looking for work.
In the Washington district the unemployment rate during the third quarter of this year is expected to reach 18.9 percent for blacks.
The National Urban League reports the current recession has pretty much wiped out all gains blacks have made over the past thirty years. This is devastating because in this current climate the climb back will be overwhelmingly difficult.
Looking at averages from the Pew Research Center is even more disturbing. They report the average net worth for blacks in 2009 was $5700.00 compared to whites with an average of $113,149.00.
Despite pressure from the Congressional Black Caucus, Obama feels African-American job creation programs are not necessary. Really Mr. President?
Falling crime rates seen during the l990’s have stopped falling in the black community as the economic climate worsens. According to Algernon Austin, Economic Policy Institute Director, “Another recession would likely continue these negative trends. The black violent crime rate and the black teenage pregnancy rate both will likely rise.”
It is so heartbreaking to see folks working under a disadvantage in the first place, trusting the President to bring a helpful change and ending up losing their jobs, their homes and their hope. These people have overcome societal disadvantages, struggled hard to get ahead in order to provide homes for their families in decent neighborhoods, and now they are packing up and moving back. The economy has been so devastated by the present administration, recovery may be impossible for some people.
And it is infuriating when you consider the incredible amount of tax money taken from these hard working people and squandered by this congress on bail outs and phony programs that do nothing to help the working people of this country.