Obama economy destroying black middle class, throwing blacks into a new Great Depression:
Obama Economy Is Destroying Black Middle Class
Compliments of Wyatt’s Torch.
Black Americans who voted their skin color in the catastrophic election of 2008 have had cause to regret it. Those satisfied to subsist by sucking on the grotesquely pendulous mammalian protuberance of Big Government will do okay for now. But those who want more for themselves and their families are getting hammered by Hope & Change:
The unemployment situation across America is bad, no doubt. But for African-Americans in some cities, this is not the great recession. It’s the Great Depression.
For example,
According to an analysis by the Economic Policy Institute, in Charlotte, N.C., the unemployment rate for African-Americans is 19.2 percent. If you add in people who have given up looking for jobs, that number exceeds 20 percent, which, according to economists Algernon Austin and William Darity, has effectively mired blacks in a depression.
Hard work doesn’t seem to be a path forward for blacks these days.
Vanessa Parker … was an administrative assistant at IBM in Charlotte. She went to night school to better herself, graduating with a bachelor’s degree in finance. Parker and her husband saved up enough money to move from a bad neighborhood to a quiet, middle-class street. But instead of moving up in the company, IBM moved out. Now she works at a big-box store for minimum wage.
“It’s very frustrating and it makes you wonder why are you doing it,” she told me. “Because it seems like the more that you try to get ahead, seems like you’re falling back.”
The government’s hostility toward those who provide employment could start you thinking that someone doesn’t want blacks climbing out of the ghetto, where they can be counted on to vote Democrat in exchange for handouts of other people’s money.
According to the National Urban League, virtually all of the impressive economic gains achieved by blacks over the past 30 years have been wiped out by the current recession/depression/“recovery”. As Patrick Graham of the Urban League of Central Carolina observes,
“It takes time to build anything. But it doesn’t take very long to destroy it.”
What our current rulers are destroying by suffocating the economy with excessive taxing and spending, monstrous debt, overbearing regulations, and general malignant intrusiveness will take generations to rebuild, if it ever can be.
On tips from Wyatt’s Torch, Apostle53, and J.
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