Obamanomics Has Left Hispanics Battling Crisis-Level Unemployment And The President Doesn’t Have A Plan To Fix It
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President Obama, 2009: “When the unemployment rate for Latinos and Latinas is higher than 10 percent, it isn’t just a problem for families worried about paying the bills or keeping their home. This is not just a problem for the Hispanic community. It’s a problem for a nation.”(President Barack Obama, Remarks By The President At The Congressional Hispanic Caucus Institute’s 32nd Annual Award Gala , Washington, D.C., 9/17/09)
OVER THREE YEARS OF OBAMA’S FAILED POLICIES HAS LEFT HISPANICS BEHIND, STRUGGLING WITH HIGH UNEMPLOYMENT AND FALLING WAGES
Since President Obama Took Office, The Hispanic Unemployment Rate Has Increased From 10.0 Percent To 11.0 Percent. (Bureau Of Labor Statistics, Accessed 6/19/12)
Hispanics “Have Been Hit Harder By The Bleak Economy Than Any Other Group.” “The rise in childhood poverty is another signal of distress for the nation’s 50.5 million Hispanics, who have been hit harder by the bleak economy than any other group.” (Carol Morello and Ted Mellnik, “Hispanic Kids The Largest Group Of Children Living In Poverty,” The Washington Post , 9/28/11)
- Unemployment, Foreclosures, And Poverty Rates Are Higher Among Hispanics Than The General Population. “The unemployment rate among Latinos is 11.3 percent, more than 2 points higher than the general population. Hispanics have felt the home foreclosure more than non-Hispanic whites, and 2010 census figures revealed that more Latino children are living in poverty - 6.1 million - than children of any other racial or ethnic group.” (Alex Leary, “Florida Hispanics’ Frustration With President Barack Obama Is Jobs,” St. Petersburg Times , 10/14/11)
- “Hispanics Now Make Up The Largest Group Of Children Living In Poverty.” “Hispanics now make up the largest group of children living in poverty, the first time in U.S. history that poor white kids have been outnumbered by poor children of another race or ethnicity, according to a new study.” (Carol Morello and Ted Mellnik, “Hispanic Kids The Largest Group Of Children Living In Poverty,” The Washington Post , 9/28/11)
Between 2009 And 2010, The Median Income For Hispanic Households Fell 2.3 Percent, From $38,667 To $37,759. (“Income, Poverty, And Health Insurance Coverage In The United States, 2010,” US Census Bureau, 9/13/11)
- “Unfortunately, Hispanics Lead In The Share Of Workers Earning Wages That Cannot Lift A Family Out Of Poverty.” “Without a good job, it is very hard to keep one’s family out of poverty. A third of Hispanic children are living in poverty, nearly three times the rate for white children. Since the start of the recession, Latino child poverty has increased the most of the major racial and ethnic groups. To lower this high rate of poverty, we need to increase the wages of Hispanic workers. Unfortunately, Hispanics lead in the share of workers earning wages that cannot lift a family out of poverty.” (Algernon Austin, “Latinos And The Jobs Crisis,” Economic Policy Institute, 5/22/12)
- Hispanic Household Wealth Has Declined More Steeply Than Blacks And Whites. “They have one of the highest unemployment rates and saw their household wealth decline more steeply than either blacks or whites, largely because so many lost their houses to foreclosure.” (Carol Morello and Ted Mellnik, “Hispanic Kids The Largest Group Of Children Living In Poverty,” The Washington Post , 9/28/11)
54 Percent Of Latinos Say The Economic Downturn Has Left Them Harder Hit Than Other Groups In America. “Fully 54% say Hispanics have been hurt more than other groups by the economic downturn of the past four years, while just 5% say they have been hurt less. Some 38% say Hispanics have been affected about as much as other groups.” (Paul Taylor, Mark Hugo Lopez, Gabriel Velasco, And Seth Motel, “Hispanics Say They Have The Worst Of A Bad Economy,” Pew Research Center, 1/26/12)
- 59 Percent Say Someone In Their Household Has Been Out Of Work In The Past Year. (Paul Taylor, Mark Hugo Lopez, Gabriel Velasco, And Seth Motel, “Hispanics Say They Have The Worst Of A Bad Economy,”Pew Research Center, 1/26/12)
- 75 Percent Say Their Finances Are “Only Fair” Or In “Poor” Shape. (Paul Taylor, Mark Hugo Lopez, Gabriel Velasco, And Seth Motel, “Hispanics Say They Have The Worst Of A Bad Economy,” Pew Research Center, 1/26/12)
OBAMA LACKS AN ECONOMIC AGENDA FOR 2012 AND BEYOND THAT WILL LIFT HISPANICS OUT OF THE RECESSION
“Forget Concerns About Obama’s Campaign Message - To One Group Of Sober-Sounding Operatives, The Real Problem Is That He Doesn’t Have A Sharp Enough Policy Vision.” (Alexander Burns and John F. Harris, “Second-Guessing President Obama,” Politico, 6/14/12)
Former Clinton Pollster Doug Schoen: “They Have No Clear Message Or Overarching Theme Other Than Class Warfare And Attack Politics.” “Doug Schoen, the former Clinton pollster who routinely knocks other Democrats and helped promote the now-defunct third-party group Americans Elect, summed up this critique in an interview with BuzzFeed. ‘They have no clear message or overarching theme other than class warfare and attack politics,’ Schoen said of Obama’s campaign.” (Alexander Burns and John F. Harris, “Second-Guessing President Obama,” Politico, 6/14/12)
- Schoen: “‘They Don’t Have A Vision For The Second Term. No Clear Sense As To What The Administration Is Offering For A Second Term.’” (Alexander Burns and John F. Harris, “Second-Guessing President Obama,” Politico, 6/14/12)
Democrat Pollster Peter Hart: “Our Focus Groups Show That Voters See A Lot Of Glamour And Glitz From The Obama Administration; They’re Wondering Where The Vision, Where The Valor Is Going To Be.” “After he conducted a focus group of swing voters in Colorado, pollster Peter Hart — the Democratic half of the NBC/WSJ poll — had this advice for Team Obama in an interview with NBC News: ‘Our focus groups show that voters see a lot of glamour and glitz from the Obama administration; they’re wondering where the vision, where the valor is going to be.’” (Chuck Todd, Mark Murray, Brooke Brower, and Natalie Cucchiara, “First Thoughts: Obama’s Back Against The Wall (Again),” NBC News, 6/14/12)
After A Dismal May Jobs Report, Obama Delivered A “Framing” Speech, With No New Policy Proposals Because “His Economic Team Made Clear They Don’t See Many Fresh Options.” “Mr. Obama’s address in Cleveland, described by his aides as a ‘framing’ speech, isn’t expected to include any major new proposals. While some of his political advisers had pushed for that, his economic team made clear they don’t see many fresh options, particularly when Congress hasn’t passed the bulk of a jobs bill that the president unveiled nine months ago, according to people familiar with the discussions.” (Carol Lee and Laura Meckler, “Obama To Revisit Economic Debate,” The Wall Street Journal, 6/11/12)
- Obama Still Believes That A Second Stimulus Contains His “Best Ideas For Spurring The Economy, And There Are No Alternative Policies Waiting In The Wings.” “People familiar with the speech say the White House believes those proposals still represent Mr. Obama’s best ideas for spurring the economy, and there are no alternative policies waiting in the wings. The speech will mark Mr. Obama’s first 2012 campaign event that is neither a large rally nor a fundraiser. About 1,000 people are expected to attend the event at Cuyahoga Community College, people familiar with the event said.” (Carol Lee and Laura Meckler, “Obama To Revisit Economic Debate,” The Wall Street Journal, 6/11/12)
- Obama Has Made A Political Calculation That Running Against Congress Is Better Than Working With Congress To Fix The Economy. “Leaving behind a year of bruising legislative battles, President Barack Obama enters his fourth year in office having calculated that he no longer needs Congress to promote his agenda and may even benefit in his re-election campaign if lawmakers accomplish little in 2012.” (Julie Pace, “In 2012, Obama To Press Ahead Without Congress,” The Associated Press, 12/31/11)
“Absent Any Major Policy Pushes, Much Of The Year Will Focus On Winning A Second Term.” “Absent any major policy pushes, much of the year will focus on winning a second term. The president will keep up a robust domestic travel schedule and aggressive campaign fundraising and use executive action to try to boost the economy.” (Julie Pace, “In 2012, Obama To Press Ahead Without Congress,” The Associated Press, 12/31/11)
“The Reality Is The Ideas Coming From Obama Are Likely To Be The Ones He Has Already Proposed.” “The ‘president is continuing to work with his team on potential new ideas’ to jumpstart the economy, White House spokesman Jay Carney said Monday when pressed about the sagging rate of job growth. The reality is the ideas coming from Obama are likely be the ones he has already proposed. There is no money and no political appetite for bolder ideas.” (Andrew Taylor, “Few Options Left For Obama On Economy Before Election Day As Gridlock Takes Hold,” The Associated Press , 6/5/12)
- Obama’s Proposals “Consists Mainly Of Marginal Initiatives …” “Obama’s ‘to do list’ consists mainly of marginal initiatives such as a tax breaks for companies that move their operations back to the U.S., hire new workers or boost their payrolls. A similar payroll tax credit was in place in 2010 but didn’t seem to do much to promote hiring. Economists say that companies hire workers based on how well their business is doing, rather than in response to tax incentives.” (Andrew Taylor, “Few Options Left For Obama On Economy Before Election Day As Gridlock Takes Hold,” The Associated Press , 6/5/12)
Obama’s “To-Do List” For Congress Holds “Little Promise Of Lifting A $15 Trillion Economy From Its Torpor.” “Obama’s remaining ‘to do list’ for Congress contains a partial tax credit for new hires, extending tax breaks about to expire, renewing highway and mass transit construction programs and preventing interest rates on student loans from doubling. Even combined, they hold little promise of lifting a $15 trillion economy from its torpor.” (Andrew Taylor, “Few Options Left For Obama On Economy Before Election Day As Gridlock Takes Hold,” The Associated Press , 6/5/12)