Nah...I am sure they are just lazy...

The Pew Research Center released some truly disheartening numbers on the wealth disparities between Caucasians and minorities in this country.
Pew goes into some detail about how the recession has hit minorities much harder then their white counter parts, but few have actually looked at the numbers.

According to the study, the inflation-adjusted median wealth among Hispanic households fell 66% from 2005 to 2009. Black households suffered a 53% drop in net worth over the same period. By contrast, whites saw a decline of 16% in household wealth.

In 2009, the typical black household had just $5,677 in wealth. Hispanic families had about $6,325 in wealth. The average white household had a net worth of $113,149.

The study also showed that a third of black and Hispanic households had zero wealth, meaning that their debts were larger than the value of all their assets.

Overall, the study attributed much of the disparity to the decline in home values, which hit black and Hispanic households hardest.

In addition, the downturn in the housing market was most severe in states with large populations of Hispanics and Asians, including California, Arizona, Nevada, Florida and Michigan, according to the study.

Combine that with the unemployment numbers for blacks and you have a much clearer picture of the problems we face as nation.

Talk about those shiftless "others" all you want, but there are still serious structural impediments to economic progress amongst minorities.

-Cheers

American Ostrich....

It seems to me that most of the people in this country are willfully ignorant of their circumstances. They do not understand how their government works, nor do they care to. They just assume that there are simple solutions to the vast array of problems, we face as a people.

Governing is hard and this graph is probably one of the most disappointing things I have seen in some time.


That public at large does not know the difference between debt or deficit. They certainly do not understand that the debt limit refers to money we have already spent (or agreed to spend), in the budget. That money is spent. It does not affect future spending. It sounds responsible to say we shouldn't raise the limit. But I ask this question. If we do not raise the debt limit, and the economy implodes, will all those who said it would not stand up and take responsibility for their actions?

Didn't think so.

-Cheers