One has to believe in something or someone in order to betray it or them.
From the start, President Barack Obama has shown little interest or loyalty in the issues that affect the poor, working class and people of color in the United States. For almost his entire first term he didn’t utter the words poor or poverty. Early on he reminded African Americans: ‘I’m not the president of black America. I’m the president of the United States of America…’
So it’s not so surprising that Obama hasn’t done much of substance or impact to ease, let alone end, the depression in the black community. He’s been on the side of the banks and Wall Street since co-signing George Bush’s and Hank Paulsen’s TARP ‘too big to fail’ bank bailout at the expense of underwater homeowners and middle-class taxpayers.
That’s because he believes more in bogus Wall Street privatization efforts that slide money to fats cats trading on Charter Schools and insurance companies poised to reap the benefits of ObamaCare and social security privatization. It’s the belief in the “trickle-down” economic myth of Reaganism and the Wall Street 1 percent rather than the many people who are now close to living in the streets because they lost their homes to foreclosure and other wealth-draining schemes.
As his economic race legacy unfolds, Obama’s recovery is worse than the George W. Bush recession for blacks…