IT'S A DEEP DEPRESSION FOR MANY

For some of us the recession is nasty but for minorities it’s a devastating Depression.

 

That’s the real conclusion of a study by the Center for American Progress.

 

The report notes that the “severity of the recession has erased most of the modest gains that families experienced in a few areas during the past business cycle from 2002 to 2007, such as homeownership.”

 

“The decline in economic security during the recession is much sharper for minorities than whites,” the report said.

 

The report notes poverty at 9.1 percent for whites, 31.2 percent for African-Americans and 28.4 Hispanics.

 

Those latter figures for minorities show a Depression, not a recession.

 

Special efforts need to be made on a national level to address these disparities.

 

One obvious one: health care for those in poverty via a government sponsored program equal to Medicare.

 

The report in full can be accessed here:

 

 

http://app.mx3.americanprogressaction.org/e/er.aspx?s=785&lid=29270&elq=7110f1f8128f4109ae1923203d84644e [1]