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First Black President’s Economy Made Whites 13 Times Richer Than Blacks

It looks like “white privilege” is rampant on the first black president’s watch.

According to new economic numbers, white Americans were the only ethnic group to see their wealth rise in the wake of the “Great Recession.”

Yahoo.com reports:

White households’ median wealth ticked up to $141,900 in 2013, up 2.4% from three years earlier, according to a Pew Research Center report released Friday.

Net worth for black households dropped by a third during that time to $11,000. Hispanic families experienced a 14% decline in wealth to $13,700.

Whites have 13 times the net worth of blacks, the largest wealth gap that’s existed since George H.W. Bush was president in 1989. The ratio of net worth between whites and Hispanics now stands at more than 10, the widest it has been since 2001.

According Federal Reserve Bank data, non-white households’ median income fell 9% between 2010 and 2013, compared to a 1 percent drop for white households. White people also own and trade stocks at a much higher rate than blacks, so the stock market’s recent explosion hasn’t been felt in minority precincts.

Just 47.4% of minorities owned homes in 2013, compared to 73.9% of white home owners.

I have long-argued that most black uplift is held hostage by a confluence of cultural cancers that are constantly overlooked as being part of the problem.

It is the persistently poor choices being made by a large number (not all) of black Americans that impede progress.

The Schott Foundation reports that 47% of African-American males graduate from high school. The National Campaign reports that 50% of black teen girls get pregnant at least once before age 20—nearly twice the national average. Nearly 7 in 10 black men abandon the mother of their children, often times punting on financial and fatherly obligations.

These are all outgrowths of a disintegrated values system among many blacks. Most noticeably in a number of darkened inner city neighborhoods, where a miasma of underclass culture has been swallowed whole. Where a shrinking middle class, due, again, to rampant illegitimacy and disproportionately high crime rates, that produce poor expectations for home ownership and income equality.

Obama giving a few speeches on these issues does next to nothing in terms of building bridges to a broader betterment in black America.

And black people don’t or won’t hold Obama accountable.

For far too many blacks, Barack Obama’s presidency reinforces an all-to-familiar brew of monolithic groupthink. This herd mentality breeds a harmful protectionism that suggests, “He can do no harm” or “he’s doing the best that he can considering his opposition.”

An affirmative action of sorts now defines Obama’s presidency.

As Obama benefits from the rarefied perks of his office, a growing black underclass is being relegated to the lowest rung of human misery.

After six years, what has Obama done for black people?

There is still profound impoverishment in a number of (Democrat-run) inner cities.

Ask yourself, has President Obama ever walked in the streets of these neighborhoods where shattered families and unwed (regularly teenage) mothers produce unruly youths; who are often housed by the Department of Housing and Urban Development (HUD), doctored by Medicaid, taught by Head Start and fed by food stamps?

No, he hasn’t.

Meanwhile this largely black culture perpetuates the same self-defeating behavior: lawlessness, dropping out of school, and drug abuse. In the end, it’s nothing but misery, and the most shrunken scoop of existence that endorses a poverty both moral and spiritual.

Where progress is attempted, big government stifles black progress. Like in Louisiana, where Governor Bobby Jindal was sued by the Obama administration for simply trying to extend better educational opportunities to black and Latino children.

Barack Obama’s daughters, on other hand, attend one of the best schools in the country.

Instead of blaming discrimination or white privilege, this President should address the problem of absentee fathers. Instead of screaming racism, liberal academics and black preachers should preach the value of graduation over gang life.

So much of our nation’s debt exists to support a massive safety net.

Obama has failed America, especially black America. And we’ve failed ourselves.

It’s past time for Americans of all colors to wise up and hold every politician accountable.


Jerome Hudson

Managing Editor

Jerome Hudson has written for numerous national outlets, including The Hill, National Review, and The Atlanta Journal-Constitution and was recognized as one of Florida’s emerging stars, having been included in the list “25 Under 30: Florida’s Rising Young Political Class.” Hudson is a Savannah, Ga. native who currently resides in Florida.

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