The Wall Street Journal’s Stephen Moore writes here about this stunning, but predictable, irony: the very demographic groups that elected Barack Obama are the very demographic groups being badly hurt by his administration’s failed economic policies.
To put that into dollar terms, in the four years between the time the Obama recovery began in June 2009 and June of this year, median black household income fell by just over $4,000, Hispanic households lost $2,000 and female-headed households lost $2,300.
The unemployment numbers show pretty much the same pattern. July’s Bureau of Labor Statistics data (the most recent available) show a national unemployment rate of 7.4%. The highest jobless rates by far are for key components of the Obama voter bloc: blacks (12.6%), Hispanics (9.4%), those with less than a high-school diploma (11%) and teens (23.7%).
Will these groups ever be able to separate their admiration for the man from his policies? It is no surprise that our nation continues to suffer. Until the Obama economic policies are reversed, we can expect more of the same failure and stagnation.
It is beyond sad.