Thursday, December 03, 2009

He's So Historic: Black Unemployment Hits Great Depression Levels


The proverbial 'grim milestone' that you won't see reported in your local paper is instead offered up by the Black Voice News.

In what is being portrayed as a direct rebuke of the White House's lack of response to the deepening unemployment meltdown, Rep. Maxine Waters D-California, chair of the powerful Financial Services sub committee killed a scheduled November 19 vote on President Barack Obama’s financial regulation reform bill.

...Waters led a bloc of African American House Democrats angry and frustrated that the Obama administration is mired in heated partisan battles over healthcare reform, war troop levels and fixing Wall Street and is not doing enough to address the plight of Blacks and Browns on Main Street. The groups have been hit much harder than any other by unemployment.

The Black unemployment rate is officially 15.7 percent nationwide compared to 9.5 percent for whites. Members of the Congressional Black Caucus are troubled by what they believe is the lack of response to the economic situation that is confronting them on the part of the administration... Joblessness for 16-to-24-year old Black men has reached Great Depression proportions -- 34.5 percent in October, more than three times the rate for the general U.S. population according to the Center for Labor Market Studies.

Maybe the CBC can join with the rest of the Democrats who plan a march on Washington to protest their own failed policies.

Or, better yet, they could join the National Black Republican Association and start fixing the problems rather than perpetuating them.


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