The Pew Charitable Trusts’ Economic Mobility Project recently released a report projecting that 68 percent of African-Americans reared in the middle of the wealth ladder will not do as well as the previous generation.
In August, the National Urban League’s State of Black America 2012 report found that nearly all the economic gains that the black middle class made during the last 30 years have been wiped out by the economic downturn.
Don’t worry, Mr. Obama. Just keep reminding them of that 7.8 percent jobless rate…. Oh, wait–unemployment among blacks is 13.4 percent. Perhaps the novelty in electing an African-American president is wearing a bit thin by now?