How have Black people made out during Barack Obama\’s presidency?
Hey, they must be doing great? I mean every poll I\’ve ever seen shows Black people monolithically supporting Mr. Obama and Democrats in general, they they must really love what he has done for them, right?
Uh…..right?
Well, let\’s take a look at the following excerpts from Larry Elder\’s latest column at townhall.com, and see:
After six years, the report card is in. The grades are not pretty. By every key economic measurement, blacks are worse off under Obama. In some cases, far worse off.
What about poverty? In 2009, when Obama took office, the black poverty rate was 25.8 percent. As of 2014, according to Pew Research Center, the black poverty rate was 27.2 percent.
What about income? CNNMoney says, “Minority households\’ median income fell 9 percent between 2010 and 2013, compared to a drop of only 1 percent for whites.” The Financial Times wrote last October: “Since 2009, median non-white household income has dropped by almost a 10th to $33,000 a year, according to the U.S. Federal Reserve\’s survey of consumer finances. As a whole, median incomes fell by 5 percent.
What about net worth and the black-white “wealth gap”? The Financial Times said: “The median non-white family today has a net worth of just $18,100 — almost a fifth lower than it was when Mr. Obama took office. White median wealth, on the other hand, has inched up by 1 percent to $142,000. In 2009, white households were seven times richer than their black counterparts. That gap is now eightfold.
When looking only at “black net worth” — which is lower compared to non-whites as a whole — white households are actually 13 times wealthier than black households. From 2010 to 2013, according to the Federal Reserve, white household median wealth increased a modest 2.4 percent, while Hispanic families\’ wealth declined 14 percent, to $13,700. But blacks\’ net worth fell from $16,600 to $11,000. This is an astonishing three-year drop of 34 percent.
Does that record – created by an administration that had 2 years with a 60% – majority in both the house and senate, and a senate majority for 6 years – look like something Black people should be thrilled over?
And now, with illegal aliens streaming into the country and competing with so many jobs that Black people disproportionately take, is there any realistic hope that things will get better any time soon?
The truth is that, under Barack Obama, there has been an economic holocaust visited upon Black citizens.
But, sadly, if an election were held today, Barack Obama would still get something like 95% of the Black vote…and any other Democrat would still get something like 90%.
Maybe one day someone will figure out a way to get through to them. But that day is not yet here.
