“font-family: Verdana;”>Last week President Obama announced the unthinkable: As part of the negotiations with the GOP on the issue of raising the federal debt ceiling, the president would put Social Security, Medicaid and Medicare on the chopping block.
“font-size: 9.0pt; font-family: Verdana; color: black;”>The three programs affect a huge swath of the American population. Of the millions of people who rely on Medicaid for access to basic health care services, two-thirds are women, adding another dimension to who will suffer from the “painful” decisions to be made by the Congress.
“font-size: 9.0pt; font-family: Verdana; color: black;”>Although the announcement caused shivers across the nation, it is not a new stance. Obama has repeatedly said that he was willing to use the three sacred cows as bargaining chips. It seems that the president is willing to give up a whole lot for a little bit. Cuts will be made on the so-called entitlement programs for minor changes in closing the loopholes benefiting private jet owners. Are you kidding me?
“font-size: 9.0pt; font-family: Verdana; color: black;”>I have reported before in previous columns about the numbers of U.S. corporations who pay NO taxes. These include Bank of America and, closer to home, Boeing (which also receives tax subsidies). According to the government’s own records, corporate taxes amount to only about 9 percent of federal revenues. That leaves people like me and you sacrificing to make up the whopping difference.
“font-size: 9.0pt; font-family: Verdana; color: black;”>When it comes to the financial pain that working families and the middle class have endured and can expect to endure in the future, African Americans’ level of pain has escalated.
“font-size: 9.0pt; font-family: Verdana; color: black;”>The Economic Policy Institute has been analyzing the dismal data. The ever-widening wealth gap between blacks and white remains stark. In 2004, the median net worth of white households was $134, 280 compared with that of $13,450 for blacks. In 2009 for every dollar of wealth the average white household had, black households only had two cents. It doesn’t take a math genius to figure out whose future is at stake here.
“font-size: 9.0pt; font-family: Verdana; color: black;”>Unemployment and housing foreclosures have disproportionately affected black folks. The unemployment rate for young, black males is astronomical but even educated blacks are taking a hit with the downsizing of corporations and governments; their unemployment rate is almost twice that of their educated white counterpart. That same ratio exists for the foreclosure rate. The black middle class expanded during the last couple of decades but those gains are vanishing. It means super bad news for black people already in poverty.
“font-size: 9.0pt; font-family: Verdana; color: black;”>Some feel that it is somewhat of an irony that the quality of life for African Americans has been decimated under the first black president. Cornel West has even called out the president for being the “black mascot of Wall Street.” Of course, this economic scene had been in the making long before Obama got to the White House. I do agree with critics that Obama is going too far out of his way to prove that he is not giving preferential treatment to black folks.
“font-size: 9.0pt; font-family: Verdana; color: black;”>If President Obama truly believes, as he often articulates, that a rising tide lifts all boats, his programs and policies have to reflect the reality that the boats of black folks are sinking. Education, social services and jobs for working people should be his priority. This will mean taking a sobering look at the tax rates for corporations (the lowest in the world!) and the defense budget. I think President Obama and the Congress would get real close to a balanced budget if they did so.
“font-size: 9.0pt; font-family: Verdana; color: black;”>If they don’t get serious about easing the pain for the majority of Americans and not the elite minority, I don’t see the political pain the president says both parties, will feel. I only see more suffering and more hopelessness if we sit around expecting these people will look out for the best interests of working people.
“font-size: 9.0pt; font-family: Verdana; color: black;”>The protest at Senator Roy Blunt’s office protesting cuts in Medicaid last week was a good sign that some of us are not sitting this important battle out. I urge you to call your reps in Congress to let them know what you want them to do. The corporate lobbyists are already sitting next to them whispering in their ears. It is now the People’s responsibility to save the programs that the People put in place. Take social security, Medicaid and Medicare off the table!
