While on the topic of race (see last blog post) let’s segue into how well President Obama has performed for black Americans; after all, he is the first black president.
That’s easy, you probably are thinking; he’s been a disaster for all Americans and, ipso facto, for black Americans. Whoa – it’s far worse than that. He has been even more of a disaster for African-Americans – – much more so than for Americans in general.
Following is a list of the top eight ways Obama has battered black America.
- At the head of the list must be K-12 education. School choice is the civil rights issue of our time and Obama has stood in the schoolhouse door to prevent black kids from leaving failing schools. Pandering to teachers’ unions, he even took away the limited school choice in heavily black Washington, DC – later restored against his wishes. He sided with powerful unions and threw poor black families under the school bus.
- Median household income has fallen over $4,000 since Obama took office but black Americans suffer the most with a decrease in real income of over 11%. The data show the Obama recovery is even worse than the Bush recession for blacks.
- Unemployment of 14.1% for blacks is nearly double that of the overall economy. This is due to tepid economic growth resulting from uncertainty and anti business policies. The black youth unemployment rate hovers around 40% yet Obama refuses to consider a temporary entry level wage or changes to the minimum wage. Black youth unemployment is the bitter fruit of dysfunctional public schools that fail to teach the basic skills needed for a global competitive economy. See number one supra.
- Higher prices for food and energy disproportionately impact black families. Food prices have surged due to Obama’s support of the ethanol subsidy. Gas prices have doubled under Obama’s failed energy policies. Yet food and energy are not counted as part of core inflation by the Fed which insists inflation has been contained. Food and energy are two of the biggest components of consumer budgets – more so for black families.
- Healthcare costs are spiraling upward due to ObamaCare while simultaneously coverage is shrinking. Rising health care premiums have forced employers to divert money that normally would have gone into higher wages. CBO reports ObamaCare will fail to cover 30 million Americans; it now will cover only 38% of those putatively not covered under Bush. Many states won’t expand Medicaid, further impeding access to health care – disproportionately for blacks. Thus health care costs more and is less available.
- College tuition has shot up due to Obama policies. Boomerang graduates sleep in the same beds they grew up in. They don’t have a job or are underemployed. Meanwhile they are saddled with student loans. Students live in fantasy-land; upon graduation the clock strikes midnight and the cruel hoax is exposed unless they join a union or work for government. You guessed it; blacks are affected in far greater proportion.
- Higher taxes are killing blacks in two ways. Capital investment makes workers more productive and results in more jobs and higher wages. When Obama raises tax rates on dividends, capital gains and small business, it is a death-knell for jobs. Despite Obama’s class warfare rhetoric, the only way for him to finance his dream (nightmare) for America is to tax the middle class – likely via a VAT. Obama’s corporate tax rate is the highest in the world and results in shipping jobs overseas. Every dollar in corporate tax revenue results in a $4 drop in real wages. Need I mention Taxmageddon?
- The 900 pound gorilla in the room is languid economic growth. Nobel laureate, Robert Lucas, an expert on economic growth, asserts the US under Obama is following Europe’s path to oblivion. In the space of just the past generation, Europe’s economy has grown 30% slower than the USA. The average European thus has grown 30% poorer relative to the average American – all due to bloated government creating slower growth. Lucas believes the US economy of the past four years may be as good as it ever gets. Who will be most adversely affected by such a situation – of course the most vulnerable among us. Slow economic growth is radioactive for African-Americans; they would be far, far better off with higher growth – class warfare be damned.
Despite the grave harm Obama is doing to blacks in particular, he is likely to get 95% of their vote; go figure. Even if every allegation Obama makes against Romney and Ryan were true (they aren’t) and they intend to cater to the rich and have contempt for the downtrodden (they don’t), black Americans would be far better off with their policies. Churchill had it right as usual. Capitalism results in unequal wealth while socialism brings equal misery.
If we get another Obama term, the debt crisis will go thermonuclear and America will be lucky to avoid widespread social unrest and to maintain the rule of law.
As scary as that thought is, Obama may welcome such an existential crisis to further his third world collectivist ideology consistent with his anti-colonial world view. If he sees America as a destructive force in the world and wants to reduce its influence, he is on the right path to accomplish that goal. Unfortunately all of us, especially black Americans, get thrown under the bus.
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