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The Disappearing Black Middle Class
Chicago Sun-Times ^ | July 10, 2011 | JESSE WASHINGTON
Posted on July 10, 2011 5:41:31 PM EDT by nickcarraway
Millions of Americans endured financial calamities in the recession. But for many in the black community, job loss has knocked them out of the middle class and back into poverty. And some experts warn of a historic reversal of hard-won economic gains that took black people decades to achieve.
“History is going to say the black middle class was decimated” over the past few years, said Maya Wiley, director of the Center for Social Inclusion. “But we’re not done writing history.”
Adds Algernon Austin, director of the Economic Policy Institute’s Program on Race, Ethnicity and the Economy: “The recession is not over for black folks.”
TOPICS: Business/Economy; Culture/Society; Extended News; Click to Add Topic
Obamas economic programs are more racist than this pledge.