The Black Middle Class…

Posted: 8 Oct 2012 in Axis of Idiots, Buyers' Remorse, Comarade Obama, Communism, Democrats, Economics, Failure, Government, Media, Media Bias, Neo-Marxists, Obama, Politics, SCOAMF, Socialism, Stupid People, WTF Files
Tags: , , , , , , , , , , ,

…is being decimated by this SCOAMF’s policies. It’s time to fire this guy.

Are you better off than you were four years ago? I’m not. It’s harder to make ends meet. Shuffling payments around and struggling to put gas in the car just to go to work. Not how thigs were for me four years ago.

I was able to take vacations, didn’t have to worry about filling the tank, didn’t have to shuffle bills around, etc.

It’s even harder for a lot of other people. My brother was laid off in August. I have a blogger friend that was laid off recently. It’s all around me.

Now the black middle class is getting hit even harder. Nice job Barry.

Black middle class economically vulnerable

Downturn has wiped out gains of last 30 years, Urban League says
By Dawn Turner Trice

Generations of Valerie Magee’s family, from her grandparents to her children, have deepened their roots in the black middle class, finding a pathway to prosperity through college education and the support of family members.

But as Magee, 56, watches college tuition skyrocket and wealth and incomes plummet, she worries that college might be moving beyond her young grandchildren’s grasp.

So Magee, a divorced nurse administrator, recently sold her pricey south suburban Matteson home, hoping that will free her up financially to better assist her children if they need help with a future mortgage payment or tuition.

“Every generation wants the next to move up at least one more rung on the ladder, not backward — never backward,” she said. “My daughter and son-in-law are doing OK for now, but who knows what will happen tomorrow?”

For months, the presidential candidates have been trying to court the middle class, extending offers of tax cuts, lower gas prices and better schools. The message: America does well when the middle class does well. The corollary: We feel your pain.

But much less attention has been given to the black middle class, which since the recession and slow recovery has suffered massive decreases in wealth and high rates of home foreclosures. Blacks overall are experiencing a 13.4 percent unemployment rate, according to figures released Friday, much higher than the national rate of 7.8 percent.

More

Comments are closed.