FOLLOW US

Thu

June 24, 2026

USA Herald November 14, 2024 4 mins read

Money Matters: Economic Exacerbation of Social Issues

USA Herald ı By Jeff Watterson

0 Comments

g20_climate_camp_police_kettling_protesters

After 366 days, the summer Olympics, a Cubs World Series victory, three versions of the iPhone, Brexit, a precarious cease-fire to a six-year civil war in Syria, and a historic presidential election, 2016 is over—finally. Domestic and abroad, it has been a stressful year for the Democratic Experiment of the United States of America. And since its inception, the problems of civil rights and who gets them have been under discussion. The magnitude of everything that has happened in the past year notwithstanding, race relations still haunt the nation as surely as the Ghost of Christmas Past.

The Obama administration will make way for President-Elect Donald Trump this month, but the racial tensions of the country will remain largely the same, bad. Despite the fact that with the election of Obama in 2008, many thought race relations would improve as we moved as a country into a “post-racial era” where anyone could do anything. To be blunt, these hopeful souls were wrong.

According to Gallup polling in 2008, 70% of whites and 61% of blacks thought that race relations between whites and blacks were either somewhat or very good. By 2016 those numbers dropped to 49% and 55% respectively. Similarly, the percentage of Americans who worry “a great deal” about race relations has almost doubled, going from 18% to 35%. Clearly, at a bare minimum, white and black perception of race relations has taken a turn for the worse.

What changed? More specifically, how has the outgoing administration either failed to help or worsened race relations? Unsurprisingly, economic instability and The Great Recession of 2008 had a lot to do with it, but more importantly, the policies for the recovery are at the center.

In 2008, everyone was hit hard, but there was a racial disparity in the economic impact. While the upper class had greater absolute losses in wealth, the percentage losses were far worse for an already struggling lower class. When the economy began to recover, there was a rebuilding of wealth and income rose across the board. Unfortunately, during the recovery, the income disparity between races increased. Before the great recession, median household income for whites was 10 times that of blacks. In 2014, that multiple rose to 13.

The Obama administration’s answer to the crisis was the ARRA (The American Recovery and Reinvestment Act of 2009), the main purpose of which was to create jobs, and quickly. Did it do that? There is still no complete consensus, but most economists (about 80%) say it did succeed in the short term, but that long-term effects remain to be seen. What it did not address, however, was where jobs were created. The Act gave tax cuts to both individuals and businesses, but, in terms of businesses, failed to protect working class people (of any race) from layoffs. As a result, while blacks and Hispanics were disproportionally affected, working-class class whites were in the same boat. This led to increasing economic frustration in an increasingly divisive political climate. It was in this environment that #BlackLivesMatter was born. It was in this environment that David Duke and the KKK made national news, that led to police officers were sniped by a lone ranger in Dallas, and Charlotte declared a state of emergency during a riot.

12

Previous Article

Americans Want Decreased Military Intervention, Favor More Diplomatic Solutions

Read More
Jeff Watterson
100 Posts

Jeff Watterson

Jeff Watterson is a journalist that focuses on politics, investigative journalism, and technology news. When Jeff is not writing, which is his hobby, he enjoys fishing and hunting.

Discussion

No comments yet. Be the first to join the discussion!

Don’t Miss It
Arizona January 11, 2025
Kelly Warner Law Firm Blames USA…

In what appears as a desperate attempt to defend multiple…

By – USA Herald
Arizona January 4, 2025
Aaron Kelly Law Firm Resorts To…

Attorney Aaron Kelly and his law partner Daniel Warner are…

By – Jeff Watterson
Arizona December 12, 2024
Arizona Bar Opens Investigation on Attorney…

USA Herald recently reported on a developing story involving Attorneys…

By – Paul O'Neal
High Profile Court Cases June 24, 2026
“I Should Have Dug Deeper”: Bill…

The veil surrounding the complicated relationship between tech titan Bill…

By – Tyler Brooks
High Profile Court Cases June 24, 2026
St. Louis County Couple Facing Severe…

A disturbing investigation in St. Louis County has culminated in…

By – Tyler Brooks
New York News June 24, 2026
How Zohran Mamdani’s Insurgents Just Rewrote…

New York City’s political landscape underwent a seismic shift this…

By – Tyler Brooks
Entertainment June 24, 2026
Paris Rejects the “Looksmaxxing” Influencer: Why…

In the world of online influencers, there is a growing…

By – Tyler Brooks
High Profile Court Cases June 23, 2026
€100,000 Reward Offered in Hunt for…

The Sofitel Barcelona and its General Manager escalate the search…

By – Tyler Brooks
High Profile Court Cases June 23, 2026
The Sleight-of-Hand City

How Barcelona became Europe’s pickpocket capital — and the night…

By – Tyler Brooks
America June 23, 2026
Was Marilyn Monroe Murdered?

Marilyn Monroe remains one of the most recognizable and influential…

By – Jackie Allen
America June 23, 2026
‘I Have Met Non-Human Intelligence in…

By Samuel López | USA Herald They walk among us.…

By – Samuel Lopez
America June 23, 2026
Biden Cognitive Issues: Court Fight Over…

Questions about Biden cognitive issues surround the former President. This…

By – Jackie Allen
America June 23, 2026
Tesla Self-Driving Car Crashes Into Texas…

Federal safety regulators in the United States have launched a…

By – Tyler Brooks
America June 23, 2026
NASA Astronaut Heading to Space Station…

For decades, the question of whether life exists beyond Earth…

By – Tyler Brooks
America June 22, 2026
Chevron Locks in 20-Year Deal to…

In a landmark partnership that underscores the growing energy demands…

By – Rihem Akkouche
America June 22, 2026
World Cup History Made as Lionel…

World Cup history was made Monday afternoon in Arlington, Texas,…

By – Jackie Allen
America June 22, 2026
Final Wish: Oliver Tree’s Family Honors…

Final Wish is how the family of singer Oliver Tree…

By – Jackie Allen
America June 21, 2026
Reflecting Pool Incident Leads to Arrest…

The Reflecting Pool at the Lincoln Memorial has become the…

By – Jackie Allen
America June 21, 2026
Nuclear Talks Begin in Switzerland as…

Nuclear Talks between the United States and Iran officially began…

By – Jackie Allen
America June 20, 2026
Pizza Hut to Be Sold in…

Pizza Hut is entering a new chapter after parent company…

By – Jackie Allen
America June 19, 2026
Jane Street Emerges from the Shadows…

Jane Street is one of the most secretive and profitable…

By – Jackie Allen
America June 19, 2026
Jane Street Emerges from the Shadows…

Jane Street is one of the most secretive and profitable…

By – Jackie Allen
America June 19, 2026
Peace Agreement Between US and Iran…

A proposed Peace Agreement framework between the United States and…

By – Jackie Allen
America June 18, 2026
Internet’s First Serial Killer Used Early…

The story of Serial Killer John Edward Robinson remains one…

By – Jackie Allen
America June 18, 2026
The 9-Second Disaster: The Edge of…

The tech industry is learning that AI autonomy can be…

By – Jackie Allen
America June 17, 2026
Southern Poverty Law Center Indictments Linked…

The Southern Poverty Law Center (SPLC), one of the nation’s…

By – Jackie Allen
America June 16, 2026
Anna Kepner Killing: Federal Judge Orders…

The legal proceedings surrounding the cruise ship murder of Anna…

By – Jackie Allen
Entertainment June 23, 2026
Kourtney Kardashian Celebrates Travis Barker on…

Kourtney Kardashian had plenty of love to share this Father’s…

By – Tyler Brooks
Entertainment June 23, 2026
Jay-Z and Roc Nation Win Major…

The legal war between rap mogul Jay-Z and Houston-based attorney…

By – Tyler Brooks
America June 22, 2026
Chevron Locks in 20-Year Deal to…

In a landmark partnership that underscores the growing energy demands…

By – Rihem Akkouche
America June 22, 2026
Lucid Motors Slashes 18% of U.S.…

Lucid Group, the luxury electric vehicle maker once seen as…

By – Rihem Akkouche
Entertainment June 22, 2026
GTA 6 Music File Discovered in…

With GTA 6 pre-orders officially opening on Thursday, June 25,…

By – Tyler Brooks
Business June 22, 2026
Toy Story 5 Shatters Box Office…

When the lights dimmed and the familiar Pixar lamp bounced…

By – Tyler Brooks
Health June 23, 2026
Your Blood Pressure Reading May Be…

Millions of people living with high blood pressure believe that…

By – Tyler Brooks
America June 6, 2026
Nichelle Nichols’ Final Mission Ends in…

By Samuel López | USA Herald The woman who helped…

By – Samuel Lopez
America June 5, 2026
Cannabis Giants Hit with Sweeping Class…

A major class action filed May 4, 2026, accuses five…

By – Samuel Lopez
Health June 1, 2026
New Pill Doubles Survival for Pancreatic…

Pancreatic cancer pill doubles life to 13 months By Tyler…

By – Tyler Brooks
California News May 31, 2026
FDA warns public as cookie firm…

FDA warns public as cookie firm rejects urgent recall request…

By – Tyler Brooks
Health May 31, 2026
Trump orders CDC to slash childhood…

Trump orders CDC to slash childhood vaccines from 17 to…

By – Tyler Brooks
America June 22, 2026
Lionel Messi, at 39, Shatters All-Time…

Lionel Messi has done it again. The Argentine superstar etched…

By – Rihem Akkouche
Pennsylvania June 22, 2026
Will a Massive Storm Derail the…

The 2026 FIFA World Cup is already delivering unforgettable moments…

By – Tyler Brooks
Sports June 18, 2026
Extraterrestrial Kickoff? Viral Psychic Warns of…

Football fans around the globe are currently deep in the…

By – Tyler Brooks
Business June 16, 2026
Dana White Declares The Historic UFC…

WASHINGTON D.C. — It was 3:00 a.m. on Monday, and…

By – Tyler Brooks
Sports June 15, 2026
Pulisic Is Not Training. What Happens…

Mauricio Pochettino pulled Christian Pulisic at halftime of the USMNT’s…

By – Nicolas Carreno
America June 14, 2026
New York Chaos Erupts After Knicks…

New York Chaos unfolded across the city after the New…

By – Jackie Allen

No posts found.

No posts found.

Signup for the USA Herald
exclusive Newsletter