Black Wealth Destroyed Under Obama vs Bush
Talk to any Obama kool-aid drinking bobble head and you get this: "There would be a lot more jobs for a lot of people of all colors if the Congress- the Tea Party Obstructionist Congress- would allow the Obama job programs to be implemented. "Gaining ground under Bush"? Kidding, right? What statistics a
re you using? The only new jobs during Bush were at McDonalds."
- Obama elected 2008
- democrat house / democrat senate: nothing was passed
- republican house gained majority 2010
- all negotiations with republicans were hampered by obama, who was going further than any republican in stripping medicare and other darling democrat programs
- economy and DOW took a steep plunge as soon as Obama took office
- Obama's job bill was to hire census workers
- McDonalds was the only major employer hiring during OBAMA's administration not Bush
- all census workers fired, plunging unemployment numbers to record highs
- Obama takes office and TRIPLES THE IRAQ AND AFGHANISTAN TROOP DEPLOYMENT
- after mid-term elections were over and Obama had not removed the troops like he promised and everyone wanted, culminating in a republican house, Obama finally caved in and promised one more year until troops were to be returned home, and, that was only after democrats came to him telling him that they would not win the house, nor the presidency if the troops were not removed by next election
Now, you want sources and stats? Let's try Nakedcapitalism for one, often quoted by all news outlets: Growth of Income Inequality Is Worse Under Obama than Bush
I'm an investor, you see. I run several blogs, one namely being about investing. Investors do not listen to rhetoric, we pay attention to numbers, facts, legislation.
PEW RESEARCH: Black Wealth Gap Widens
- 2005 net worth $12,124 [ net worth is calculated by taking all your assets, paying off all debts, and the remainder is the net worth]
- 2009 net worth $5,677
The gap has widened by a factor of 10 between Blacks and whites, under Obama.
In fact, Blacks were super wealthy after slavery, compared to today. [pretty shocking]
But wait, even if you're not Black, or don't care, or the stat doesn't move you, MAYBE THIS WILL
Fraction of growth captured by top 1%
Bush: 2002-2007 65%
Obama: 2009-2010 93%
Yes under Bush the top 1% got 65 cents out of every dollar. But, under Obama they got 93 cents out of every dollar.
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2 comments:
I understand your premise, but your perspective is missing data and incorporation of historic factors. The economic results seen today are the effects of policy designed and implemented years ago.
The dearth of Black Americans in high-growth entrepreneurship and risk capital investing are key indicators of the disconnect between Black America and the processes of job growth and wealth creation at the highest levels.
Any discussion of the problems of plummeting Black wealth and chronic high unemployment must include the economic strategies that drive the processes of job growth and wealth creation in America. That conversation is much more in-depth than the analysis offered here.
I welcome the discussion.
See response here: http://shakaama.blogspot.com/2012/08/why-black-wealth-was-destroyed-under.html
Just for you, the entire post.
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