It is Still the Economy, Stupid
Guest Columnist | 6/21/2012, 11:27 a.m.
How will these individuals recover from these catastrophic losses? How will they be able to afford to pay college tuition for their children or save for the future? How will they be able to retire?
When these numbers are put into the context of ethnicity, based upon data from the 2002 Survey of Income and Program Participation, White median household net worth was about $90,000, compared to a mere $6,000 for the median Black household.
As if structural long-term unemployment and loss of net worth are not enough, Americans are experiencing record rates of poverty. According to Bread for the World, "We live in the world's wealthiest nation. Yet 15.1 percent of people living in the United States live in poverty... 14.5 percent of U.S. households struggle to put enough food on the table. More than 48 million Americans--including 16.2 million children--live in these households."
Unemployment is a huge problem in America but only focusing on unemployment will not address and solve the long-term structural problems that are facing too many Americans. Poverty and long-term structural unemployment are impacting the everyday lives of more Americans than same-sex marriage, abortion, voter fraud, and immigration.
Very simple message to our presidential candidates; once again, it's the economy, stupid but now the problems are much worse and the solutions more complex.
Wilmer Leon is the producer/ host of the nationally broadcast call-in talk radio program "Inside the Issues with Wilmer Leon," and a Teaching Associate in the Department of Political Science at Howard University. Go to his Prescription @ Face Book.com He can be reached at www.wilmerleon.com or by email: firstname.lastname@example.org. www.twitter.com/drwleon