“Has stopped referencing”— So if they don’t talk about it every day, the hacks at the NY Post can claim they “stopped referencing” it.
“Developing” in this case means “Trying to manufacture some bullshit”
UPDATE: Donald Trump Takes Office as the 47th US President
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“Has stopped referencing”— So if they don’t talk about it every day, the hacks at the NY Post can claim they “stopped referencing” it.
“Developing” in this case means “Trying to manufacture some bullshit”
Biden says racial wealth gap is closing. The reality is complicated.
Can Biden take credit for rising Black wealth?
When President Biden traveled to Philadelphia last week to kick off a new effort to win over Black voters, he boasted that the gulf in wealth between White and Black Americans had narrowed on his watch.
“The racial wealth gap is the lowest it’s been in 20 years because of our efforts,” Biden said.
Biden has deployed the statistic repeatedly as he tries to shore up his support with Black voters, a traditionally Democratic constituency with whom he has struggled in recent polling. The campaign has also said Biden has delivered for Black Americans by “increasing Black wealth by 60%.”
The reality is more complicated.
The racial wealth gap has narrowed by one measure — but grown by another one. The data on which Biden is relying starts in 2019, making it tough to untangle how much credit he can claim for the rise in Black wealth and how much belongs to former president Donald Trump.
“Black and Brown wealth is rising, but so is the wealth gap,” Andre Perry, a senior fellow at the Brookings Institution, a liberal-leaning think tank, said in a talk on Monday.
The wealth of the median Black family grew by 61 percent between 2019 and 2022, rising twice as fast as the wealth of the median White family, according to the Federal Reserve data on which Biden’s claim rests. But White families started off so much richer than Black ones that the wealth gap between them still grew by about $50,000. (The median White family had a net worth of $285,000 in 2022, versus $44,900 for the median Black family.)
Most of the rise in Black wealth was due to rising home values, according to the data. Housing prices surged under Trump and kept rising after Biden took office (leading many Americans to despair that they will ever be able to afford a home).
Perry argued that Biden’s biggest impact on Black wealth might be that his policies helped to stave off a predicted recession that likely would have hit Black Americans especially hard.
“It’s not so much that the Biden administration increased wealth,” he said in an interview. “It’s that the economy was stable enough so that Black people’s wealth could increase.”
Fighting for Black voters
Biden is taking credit for growing Black wealth as he and Trump vie for Black voters’ support.
Biden has campaigned recently with Black voters in Georgia, Michigan and Pennsylvania, and deployed surrogates to Black communities across the country over the past week.
Trump, meanwhile, argued at a rally last month in the Bronx that “African Americans are getting slaughtered” by Biden’s policies. Rep. Byron Donalds (R-Fla.), a potential Trump vice-presidential pick who is Black, infuriated Democrats this week by suggesting that Black families were stronger during the Jim Crow years. (His critique in some ways echoed the one Daniel Patrick Moynihan made as a staffer in President Lyndon B. Johnson’s administration.)
Black voters still back Biden by big margins, even though polls show their support for him has slipped since 2020 and their support for Trump has increased. Many of them aren’t convinced that Biden has helped them economically, though.
Just 22 percent of Black Americans said they were better off financially now than they were when Biden took office, according to a Washington Post-Ipsos poll in April. The same share said they were worse off, while 54 percent said they were in about the same shape financially.
Mindful of the metrics
A Biden campaign official pointed to further metrics showing that Black Americans have benefited under Biden. Black poverty hit a record low in 2022, and Black unemployment is almost as low as the nadir it hit during the Trump administration.
Several Congressional Black Caucus members also praised Biden’s record of creating jobs.
- “Black folks have benefited from that,”Rep. Hank Johnson (D-Ga.), who represents a swing state where Biden campaigned last month, told us. “We are the ones who have those jobs. We are the ones whose wages are increasing. We are the ones whose home equity is increasing — those of us who have homes.”
- “There’s been some noise that has been proliferated about what has not been done for the African American community,” Rep. Sanford D. Bishop Jr. (D-Ga.) “But it’s absolutely far from the truth. President Biden’s administration has really, really been good for African Americans.”
“I represent an area that’s experiencing enormous food insecurity and the cost of food — people are still struggling,” Davis said. “We just have to be mindful of what single metric we’re looking at.”
Jesse Van Tol, president and chief executive of the National Community Reinvestment Coalition, said Biden deserves credit for pressing banks to expand special purpose credit programs, which are meant to reduce racial disparities in lending. But he added that there were risks to talking about rising wealth when many Americans say they’re struggling.
“When we talk about progress in the aggregate, it’s not very meaningful if you yourself have not progressed,” he said. “I think certainly there is a need for the Biden administration to propose bold solutions to addressing the Black-White homeownership gap.”
Harris Claims She Had a Job at McDonald's While at College. Here's What We Found
The vice president's claim that she once worked for the fast food giant resurfaced during the 2024 presidential campaign.
www.snopes.com
Harris Claims She Had a Job at McDonald's While at College. Here's What We Found
The vice president's claim that she once worked for the fast food giant resurfaced during the 2024 presidential campaign.
I’m very aware of the story— or, rather, the attempt at a story.
I don’t believe she made it up… And there’s zero evidence that she did. I’m willing to be critical of Kamala, as you know, but pushing this sort of weak shit seems to indicate that you’re just going to be against her no matter what, even on the most trivial matters with the faintest of substantiation.
So it's bullshit for the relief real humans are experiencing? It's all or nothing then? So fuck people getting cheap insulin?
If she faked McDonald's work, that's stupid, and leaves her character in question.
MAGA, No idea if the McDonalds thing was a lie at this point.
But are we REALLY going to talk about character and pretend long before Harris was a candidate for the POTUS position that Donald Trump doesn’t exist and CHARACTER is long long gone?
The AUDACITY to try and bring up someone else character when people like you support Trump is an embrassing Joke!!
Aye fam, you are cracking me TF up with the new avatar in combination with this reply
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This is the world we're living in now. A convicted fellon and rapist is getting a full pass from the media. It's disgusting.
Not too long ago this killed your chance to run the nation.
White supremacy is a helluva drug.
This right here. Trump lies everyday about shit that's way more important, but I'm supposed to get bent out of shape about the "stolen valor" of someone claiming they worked a part-time job as a kid that most conservatives don't even count as a real job, anyway ("starter wage" my ass, but that's a whole other conversation....).
Republicans and anyone supporting or covering them have absolutely no grounds to hammer anyone on moral or ethical matters as long as they continue to give Trump a free pass on... pretty much everything.
"Let's play a game....."Is that the Saw Puppet next to Kamala?
Truth.com!!!
If it complicated for Biden then it's complicated for trump...what's your point?
I could explain why those 10 drugs have such a significant impact but you wouldn't understand. I don't have time to be drawing pictures and teaching you 3rd grade math and shit. Stay stupid. #MAGA
You know Trump's in trouble when this is the best bullshit they can come up with. Who gives a fuck which Mc Donald's?
Biden’s not in the race anymore. You probably missed that because you were picking master's cotton all summer.
His lawyers…..
This our year!!!Aye fam, you are cracking me TF with the new avatar in combination with the reply
Since Jack Smith is pursuing the election interference case this was the wrong thing to say… Yep once again trump put his self into the middle of a storm
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The system isn’t what you think it is. Laws are political. What happens when the law breaker converges with a political figure?
A realtor owns the NYTimes. When you think of most of our problems in this country, it comes from the realty sector. If the majority of your wealth is in your home…
The FBI killed Fred Hampton while Bundy still lives. White people always want to play connect the dots at the wrong time. Your people killed Fred because he wanted to give hungry children food at the beginning of their school day.
How evil do you have to be to feel threatened by a guy that wants hungry children to have something to eat?
Some people forgot about this and I’m pretty sure Putin told him to do this. Set that fucking country back 30 years.
He has lost his damn mind.
What in the fuck? Yeah something is getting ready to come down. Watch the media over the next few days.
That's a tranny on the right.
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