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America Needs a White Republican President
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African-American columnist Joseph Perkins has studied the effects of Reaganomics on black America. He found that, after the Reagan tax cuts gained traction, African-American unemployment fell from 19.5 percent in 1983 to 11.4 percent in 1989. Black-owned businesses saw income rise from $12.4 billion in 1982 to $18.1 billion in 1987—an annual average growth rate of 7.9 percent. The black middle class expanded by one-third during the Reagan years, from 3.6 million to 4.8 million.
Real Politics reports Obama’s statistics as follows:
Median family income for black Americans has declined a whopping 10.9 percent during the Obama administration…This decline does not include losses suffered during the financial crisis and the recession that followed, but it instead measures declines since June 2009, when the recession officially ended.
That’s not the only bad news for African-Americans. The poverty rate for blacks is now 25.8 percent. The black labor force participation rate, which rose throughout the 1980s and 1990s, has declined for the past decade and quite sharply under Obama to 61.4 percent. The black unemployment rate, according to Pew Research, stands at 13.4 percent. Among black, male, high school dropouts, PBS’ Paul Salmon reports, the unemployment rate is a staggering 95 percent.
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