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
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2 comments:

Torrance Stephens - All-Mi-T said...

being objective, his plan is lacking - thats just me. Riddle me this, don’t you think McCain or Obama should tell us who will be their Treasury Secretary? Just a query. I mean with almost a trillion dollars on the line.

Villager said...

RDawg - If this bailout passes, then we are probably going to have the current Treasury Secretary (Paulsen) staying on for the next president's term. I can't imagine that they would turn over this process to someone new...