Thursday, February 12, 2009

African Americans Experiencing an Economic Depression

Is it surprising, that some citizens are in a deeper economic crisis than others or that some sectors of the economy are in a deeper ditch than another? It shouldn't be. For the past 30 years, Republicans have attacked the Democrat voting bloc with impunity. At the vanguard of this attack are African Americans. Documenting this economic and political malaise is the "State of the Dream" report published by the Institute of Policy Studies, which found that people of color in the United States are experiencing a silent economic depression. "It's silent because it's going unnoticed, unacknowledged, and unaddressed — and yet the evidence is striking. While the general population has been in recession for one year, people of color have been in recession for five years. By definition, a long-term recession is a depression."

The report details "additional evidence that shows the current racial economic inequity, including poverty rates, wealth and assets and economic mobility. While racial barriers did not prevent an African American from becoming president, they continue to impede many people of color from achieving the same economic success as their white counterparts." Download the full report here...

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