On the issue of the Black middle class: The disappearing black middle class
Excerpt: Millions of Americans endured financial calamities in the recession. But for many in the black community, job loss has knocked them out of the middle class and back into poverty. And some experts warn of a historic reversal of hard-won economic gains that took black people decades to achieve. ... In 2004, the median net worth of white households was $134,280, compared with $13,450 for black households, according to an analysis of Federal Reserve data by the Economic Policy Institute. By 2009, the median net worth for white households had fallen 24 percent to $97,860; the median net worth for black households had fallen 83 percent to $2,170, according to the institute. ... Some see a bitter irony in soaring black unemployment and the decline of the black middle class on the watch of the first black president. I thought Barack Obama could have provided some way out. But he lacks backbone, Princeton Professor Cornel West told truthdig.com recently. West said Obama sold out the poor to become a black mascot of Wall Street oligarchs and a black puppet of corporate plutocrats. . . . I dont think in good conscience I could tell anybody to vote for Obama. Read more here: http://www.suntimes.com/6397110-417/the-disappearing-black-middle-class.html J - Ninety percent of politicians give the other ten percent a bad reputation. - Henry Kissinger Politicians are people who, when they see light at the end of the tunnel, go out and buy some more tunnel. - John Quin ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:340223 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
