It’s the Economy Stupid

Crossposted from The Stars Hollow Gazette

Please remember that criticising Barack Obama and his failed economic policies is racist.

Recession Study Finds Hispanics Hit the Hardest

By SABRINA TAVERNISE, The New York Times

Published: July 26, 2011

WOODBRIDGE, Va. – Hispanic families accounted for the largest single decline in wealth of any ethnic and racial group in the country during the recession, according to a study published Tuesday by the Pew Foundation.

The study, which used data collected by the Census Bureau, found that the median wealth of Hispanic households fell by 66 percent from 2005 to 2009. By contrast, the median wealth of whites fell by just 16 percent over the same period. African Americans saw their wealth drop by 53 percent. Asians also saw a big decline, with household wealth dropping 54 percent.

The declines have led to the largest wealth disparities in the 25 years that the bureau has been collecting the data, according to the report.

Median wealth of whites is now 20 times that of black households and 18 times that of Hispanic households, double the already marked disparities that had prevailed in the decades before the recent recession, the study found.

Electoral victory my ass.

Obama leaves Hispanic activists unsatisfied

By David Nakamura, The Washington Post

Posted at 10:25 AM ET, 07/26/2011

Appearing at a luncheon at the Wardman Park Marriott for the National Council of La Raza, the largest Hispanic civil rights organization in the country, Obama sought to shore up support from a critical pillar of the coalition that got him elected in 2008. It did not go as smoothly as the president might have hoped.

…

(T)he crowd was not completely convinced. A group of students stood during the president’s remarks, in a silent protest against his policies. And at a news conference afterward, La Raza President Janet Murguía said Obama had failed the Latino community.

“We’re not satisfied the president has kept his promise,” she said. “On the issue of immigration reform, it’s fair to say that we didn’t hear anything new.”

Netroots Nation 2011, Immigration and the Power of the Latino Vote: Why Harry Reid Came Back and Alex Sink Sunk–