September 22, 2008
Obama Economic Plan Provides Hope for Black Community
Barack Obama’s economic plan would help African American families regain some of the losses they’ve experienced during the Bush years.
Key among Obama’s plan, according to campaign officials, are plans to increase the threshold for the Earned Income Tax Credit, raise the minimum wage and end Bush’s tax cuts for corporations that send jobs overseas.
The economic woes that have gripped the nation run even deeper in the African American community. For example, the unemployment rate in America is 6.1% ... highest since 2003, however, unemployment for the Black community sits at a staggering 10.6%.
“We’re in the bottom of the boat, when the water comes in the bottom of the boat, we’re the first ones to notice, but it’s the whole ship that is sinking,” said William Spriggs, chair of the economics department at Howard University. “We cannot afford as a nation for this ship to take on any more water.”
Eric Mayes, NNPA
Click here for more…