Monday, January 10, 2011
On Saturday, A&G submitted a blog posting entitled "Bureau of Labor Statistics-Dec.-What It Really Says' and presented what the current unemployment rates are relating to different races, ethnicities and age groupings.
When President Obama defeated Republican challenger John McCain in 2008, it was due to the strong support of blacks, Hispanics and young Americans that went to the voting booth in larger numbers than usual to demonstrate support for Obama.
These same groups of people have been rewarded for their support and belief in "Hope" by currently suffering the Highest rates of unemployment in the nation.
In 2008, a full 96 percent of black voters supported Obama. Currently, the number of black unemployed is 15.8% (a little more than one in Six) For perspective, the unemployment rate for whites is 8.5%, or approximately Half of blacks.
And while A&G does not believe a McCain administration would have done much if anything to make the lives of black people better, still it is Amazing that as a group, black Americans are still fiercely loyal of a President who has done Absolutely Nothing to help his own race economically during this ongoing recession.
In addition, 67% of Hispanics for Obama in '08. The number of Hispanics out of work currently is 13%, or just about one in Seven. As a comparison, the unemployment rate for Asians is 7.2% or about Half. Obama has done little to nothing to make the lives of Hispanic people better and give them a chance of a good future.
66% of those under 30 cast their vote for the current President in 2008. Currently over 25% of teenagers are unemployed, and the only age group over 18 with a worse unemployment rate than those between 18-25, are those 50 and up, who are looked upon by the work force as too expensive via salary, benefits, healthcare,etc... and not proficient on newer technologies.
According to the BLS, by the end of 2008, just after Obama's victory, "Among the major race and ethnicity groups, blacks had the highest unemployment rate in 2008, at 10.1 percent, compared with 7.6 percent for Hispanics, 5.2 percent for whites, and 4.0 percent for Asians."
This means black unemployment has jumped from 10.1% to 15.8% and Hispanic unemployment has spiked from 7.6% to 13%.
In less than two weeks, will mark the two-year anniversary of Obama's presidency. And as previous postings have clearly demonstrated, Obama is a fiscal Conservative who has been embracing "big business" & corporations, pumped Trillions in the the stock market, and has a rather odd affinity for President Reagan and his "Trickle Down" economic policies. The economic team he surrounded himself with in early 2009 was not the same team of economic advisors during the Election (they were fiscally liberal) and the current group coming in are more aligned with banks and big-business than the previous know-nothings like Larry Summers.
Whatever your political leanings, this is not debatable- No fiscally conservative economic policy is Ever meant to help working & poor people. All fiscally conservative economic policies are aimed at strengthening corporations and helping to lower their corporate tax burdens in the belief that this will translate to job growth eventually.
There is a point when a current President can no longer shift blame to a predecessor and must accept that his policies are failing the country.
If unemployment figures amongst blacks and Hispanics are still very high by late 2012, and they still support Obama with overwhelming majorities based on blind faith, it will mean one of two things-- either the Republican challenger is simply Horrid, or there are a lot of very ignorant voters out there.
Posted by Susquehanna at Monday, January 10, 2011