President Obama extols an economy that’s benefiting “everybody.” But a closer look reveals a less rosy picture, especially for minorities.
Indeed, wages have inched up to — and in some cases, over — pre-recession levels in 2015 for blacks and Hispanics, based on the latest Census Bureau report. But over the past eight years both groups endured the highest unemployment rates, based on Bureau of Labor Statistics data reviewed by The Daily Signal.
The estimated median income for blacks last year was $37,211. But that’s only marginally higher than when Mr. Obama took office ($36,179). Pre-recession, black Americans’ median income was $38,970.
Hispanics did slightly better, but not by much. In 2015, the median income for this group was $45,148, up from $42,022 in 2009 but only marginally better than $44,215, pre-recession.
“This has been the slowest recovery of the post-war era,” says James Sherk, a research fellow with The Heritage Foundation.
And as noted by Horace Cooper of Project 21, an initiative of The National Center for Public Policy Research, blacks along with every other demographic did better economically under Presidents Reagan and Clinton before runaway stimulus spending, ObamaCare and regulatory overload.
For all Americans, the economic snapshot won’t be much better in four years without a correction in the nation’s direction.
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