The Economic Impact of Obama’s Presidency on Black America

106Views
Obama Atrocity

Trust in the Lord and do good. Then you will live safely in the land and prosper. (The New Living Translation of the Bible)

FOUNDING FATHERS’ PERSPECTIVE

If an American is to amount to anything he must rely upon himself, and not upon the State;” (Theodore Roosevelt)

Charity is no part of the legislative duty of the government.” (James Madison)

“The Constitution only gives people the right to pursue happiness. You have to catch it yourself.”  (Benjamin Franklin)

FACTS

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence.” (John Adams)

95% of all Black voters voted for Obama. They said their number one reason was they felt he’d improve the economy.

Since President Obama first took office:

◊  Overall Black unemployment increased by 40%.
◊  The unemployment rate for young Black men increased to 51%.
◊  White unemployment decreased by almost 50%.
◊  SBA loans for small Black businesses decreased from 8% to 1.7%.
◊  SBA loans for small non-Black businesses increased by 20% or more.
National Black Chamber of Commerce, 2016. Bates, Tim & Robb, Alice. “Decline in SBA Loans to Blacks Raises Questions About Obama Administration’s Commitment”
Black Press USA, 1/5/15. Burke, Lauren Victoria. “Is Black America Better Off Under Obama?”  
Politifact, 7/13/15. Jacobson, Louis. “Bernie Sanders says real unemployment rate for African-American youth is 51%”    
The Atlantic, 12/21/15. White,Gillian. “Education Gaps Don’t Fully Explain Why Black Unemployment is So High” 

◊  The average household wealth of Whites is 13 times greater than Blacks. Before Obama’s presidency, it was 8 times greater.
Pew Research Center, 12/12/14. Kochhar, Rakesh & Richard Fry. “Wealth Inequality Has Widened Along Racial-Ethnic Lines”  

◊  The median income for Black households dropped 9%. The median income for White households dropped 1%.
◊  Black home ownership decreased 6%. White home ownership decreased 3%.
Townhall, 7/23/15. Elder, Larry. “Under Obama Blacks are worse off – Far worse”  

◊  The poverty rate for Black children increased to 39%. The poverty rate for White children increased to 14%. Newsmax, 7/21/15. Richter,Greg. “Report:3 Million More Children in Poverty Under Obama”

◊  The number of Blacks on food stamps increased 58%. Blacks receive food stamps 3 times more frequently than Whites. National Review, 3/24/16. Murdock, Deroy. “Blacks mainly backslide under Obama”

SUMMARY

President Obama’s claim that Black Americans are economically better off because of his presidency does not have any basis in fact.  In almost every category, the economic situation of Blacks has worsened since Obama was elected. The Obama presidency disproved the belief that simply electing a president of a certain race would automatically improve the economic situation of people OF that race.

SOLUTIONS

To improve the economic situation of ALL races, voters should select candidates who have expertise and a strong improvement plan in that area, regardless of their race.

This Brief is from https://www.usa-focus.org Follow us on Twitter

Tags:

The opinions expressed in this commentary are solely those of the author and are not not necessarily either shared or endorsed by iPatriot.com.

USA-Focus.org

USA-Focus and its supporters are patriots. We are committed to “Restoring the American Dream by Returning to Our Founding Principles.” Check us out on the web at https://www.usa-focus.org and on Twitter https://twitter.com/USA_Focus

Facebook Comments

Disqus Comments

CONTACT US

Need help, have a question, or a comment? Send us an email and we'll get back to you as soon as possible.

Sending

Log in with your credentials

or    

Forgot your details?

Create Account

Thanks for sharing!
We invite you to become an iPatriot insider. Simply sign up for our free email newsletter, and we'll keep you in the loop.

Send this to friend