Black Middle Class and Obama

Obama's economic policies have hurt all Americans, regardless of race.

According to the Pew Charitable Trusts' Economic Mobility Project, and the National Urban League, the black middle class has been been hit particularly hard.

From Newsmax:

The economic downturn and long recession have hit the black middle class hard, wiping out gains made in the last 30 years, with plummets in wealth and high rates of foreclosures, the Chicago Tribune reported.

It’s projected that 68 percent of middle –class blacks will not do as well as the previous generation, according to the Pew Charitable Trusts' Economic Mobility Project, and the National Urban League reported that most economic gains that the black middle class made during the last 30 years have been wiped out by the economic downturn, according to the Tribune.

"This is a very dire situation," Valerie Rawlston Wilson, an economist with the National Urban League Policy Institute, told the Tribune. "Even for blacks who have college degrees, we've seen a doubling of their unemployment (rate) between 2007 and 2010."

The nation’s unemployment rate is 7.8 percent. For blacks, it’s 13.4 percent. The average black household's wealth fell by more than half from 2005-2009 while white household wealth fell 16 percent to $113,149, according to the Tribune.

"For every $20 whites have in wealth, blacks have just $1," Paul Taylor, director of Pew's Social and Demographic Trends project, told the Tribune. "And in many cases, households get a boost because they inherit wealth from parents and grandparents. Blacks for most of history haven't been able to accumulate that type of wealth."

From 2009 to 2012, median household income for blacks has declined by 11.1 percent, compared to the decline for whites of 5.2 percent and for Hispanics of 4.1 percent.

Will blacks continue to support Obama with the same unanimity they showed in the 2008 election, even though he has so seriously failed them?

Surely, a greater percentage of middle class blacks will vote for their personal economic prosperity rather than the class warfare BS Obama is hawking.

It will be interesting to see if racism is a factor in the 2012 election.

Will middle class blacks vote based on Obama's skin color?