Post-Racial America

First, the bad news. Before the Great Recession hit, the average family of color had a net worth of less than $30,000; the average white family's net worth was $170,000. With the economic downturn, things got worse for almost everyone, but especially for people of color. White unemployment rose...

Full description

Saved in:
Bibliographic Details
Published inLa Prensa San Diego Vol. 34; no. 13
Main Author van Gelder, Sarah
Format Newspaper Article
LanguageEnglish
Published San Diego, Calif La Prensa América, Inc 02.04.2010
Subjects
Demonstrations & protests
Equality
Minority & ethnic groups
Multiculturalism & pluralism
Obama, Barack
Presidents
Recessions
Social justice
United States > US
Online AccessGet full text

Cover

More Information
Summary:First, the bad news. Before the Great Recession hit, the average family of color had a net worth of less than $30,000; the average white family's net worth was $170,000. With the economic downturn, things got worse for almost everyone, but especially for people of color. White unemployment rose to 9 percent, but unemployment among blacks is at a whopping 16 percent, and among Latinos it's nearly 13 percent. The economic crisis hits blacks and Latinos in other ways, too. They were far more likely to be saddled with high-rate, subprime loans than their white counterparts with similar qualifications, and they are more likely to be facing the loss of their main asset-their home. The election of [Barack Obama] built on centuries of struggle against injustice. It's a milestone in the healing of a nation torn apart by contradictions-the thirst for freedom and the desire for fresh opportunities, but also the massacres of native peoples and the enslavement of African families. The promise of a more perfect union can only be realized if we walk toward a future committed to liberty and justice-this time-for all.
ISSN:0738-9183