He campaigned on “Hope and Change.” Lives did change, financially, for the few at the top.
The following article, obviously leftist, the World Socialist Website, by Eric London, provides the scathing facts of the American leftist President, Barack Obama, who held the office for two consecutive terms, for a total of 8 years.
Americans struggle to face negative criticism of just about anything they advance collectively. I’m certain the vast majority still believe, in their gullibility, that all in all, America is headed on the right track, and simply needs a tweek or two in order to “progress.”
As London reports on Matt Bruening’s analysis of the People’s Policy Project’s socioeconomic data in the wake of the Obama years:
“The level of inequality within racial groups has skyrocketed since the coming to power of Barack Obama. Over the course of his presidency, from 2007 to 2016, the top 1 percent of African-Americans increased its share from 19.4 percent to 40.5 percent. Among Latinos, the top 1 percent increased its share from 30.7 to 44.7. The figure also increased among whites, but less dramatically, from 31.9 to 36.5.
In another dataset, Bruening shows that during the Obama administration, wealth for the top 1 percent of African-Americans and Latinos skyrocketed, while declining for the bottom 99 percent within those groups.
Bruening also explains that due to higher levels of poverty among African-Americans and Latinos, only the top 2 percent within each racial group has sufficient wealth to enter the overall top 10 percent among all racial groups. In other words, the years 2007 to 2016 further devastated Latino and black working people while greatly enriching the minority members of the wealthiest 10 percent.”
London, then sheds light on the deceptive tactics by the institutional “Left” (which is not really “Left”) used to exploit the ever growing gullibility of the American population as a whole:
“This massive transfer of wealth exposes the sham of Obama’s presidency. Hailed by the corporate media and pseudo-left as a “transformative figure” on account of his race, his administration oversaw the bank bailout, the bankruptcy of Detroit, the poisoning of the water in Flint, the deportation of 2.7 million immigrants, the expansion of NSA surveillance and a permanent state of war, and major cuts to social programs, education and food stamps.
The Democratic Party consciously used Obama’s skin color to give a political cover to social counterrevolution. The super-rich were primary beneficiaries, but the affluent middle class, including sections of African-Americans and Latinos, were among the greatest beneficiaries of this policy of intensified class exploitation. This created the conditions for the victory of Trump, who benefited from a decline in the vote for the candidate of Wall Street, Hillary Clinton, among all workers, including minority workers.
The Federal Reserve report shows that workers of all racial groups face declining wealth and stagnant incomes, and that growing economic hardship is prevalent across different strata of the working class. In other words, workers of different races and at differing income and wealth levels are objectively being drawn closer together by the impact of the ruling class’s social counterrevolutionary policies.
American society is increasingly polarized—not between races, but between classes. In this context, the class basis of the upper-middle class’s obsession with racial and identity politics becomes clearer.”
Read Eric London’s full article here: