Donald Trump Has Not Been The Best President for Blacks Since Lincoln
Donald Trump boasts he’s the best president for Blacks since Abe Lincoln. But are Black lives really better under his administration? Charisse Jones at USA Today answer the question.
Three years into the Trump administration, African Americans experienced a record low unemployment rate of 5.4% in August 2019. But the economic downturn sparked by the coronavirus pandemic has erased millions of jobs and reversed that historic decline. In September, 12.1% of Black Americans were out of work, compared to 7% of whites,10.3% of Latinos and 9.9% of Asians.
Homeownership for Black Americans ticked up slightly this year but still significantly lags behind whites. The national homeownership rate for white households was 73.7% the first three months of the year, up from 73.2% during that period in 2019 according to an analysis of census data by the real estate brokerage Redfin. But only 44% of Black households owned a home in the first quarter, up from 41.1% in 2019.
According to the Federal Reserve, in 2016, white families had the highest level of both median and mean family wealth: $171,000 and $933,700, respectively. Black and Hispanic families have considerably less wealth than white families. Black families’ median and mean net worth is less than 15 percent that of white families, at $17,600 and $138,200, respectively. Hispanic families’ median and mean net worth was $20,700 and $191,200, respectively.
In 2019, according to the Fed, Black families’ median and mean wealth is less than 15 percent that of White families, at $24,100 and $142,500, respectively. Hispanic families’ median and mean wealth is $36,100 and $165,500, respectively.
Black women, who like many of their peers are often breadwinners, are struggling to cover basic necessities during the pandemic, with 48% saying they are unable to pay for necessities like food and housing, according to a survey commissioned by the Time’s Up Foundation and conducted by the firm PerryUndem. Many have also been unable to build a financial cushion, with 55% of Black women saying they have less than $200 saved.
Black households are less invested in the stock market than their white counterparts. Just 33.5% of Black households owned stocks last year, according to data from the Federal Reserve. Meanwhile, almost 61% of white households participated in the stock market.
Best President For Blacks Since Lincoln?
While Trump typically touts that African Americans have achieved historically low unemployment under his watch, our jobless rate has spiked during the COVID-19-related economic downturn and remains nearly twice that of whites. Home ownership rates for African Americans continue to dramatically trail that of other groups. And Black women have less savings to get them through lean times. Additionally, the job gains Black Americans experienced before the economic downturn were often in positions that paid low wages, making it harder to build up the savings and benefits needed to stay afloat during tough times.
Owning a home is a critical building block for wealth, providing equity that can help pay for college, launch a business or give a financial leg up to future generations. But a history of racist policies — from redlining, which blocked African Americans from getting loans, to restrictive covenants confining many Black Americans to crowded, underserved neighborhoods — have hindered their ability to purchase and hold onto property. That homeownership divide has contributed to a stark gap in the net worth of Black vs. white families.
Trump often points to a soaring stock market as evidence that the economy remains strong even amid relatively high unemployment, but Black Americans may have less money to invest in equities, experts say, and centuries of discrimination have made some wary of assets that aren’t more tangible.
Top Ten Best Presidents For Blacks
This was an easy list to make. The vast majority of American Presidents have been indifferent at best, and detrimental at worst, when it comes to Black people.
For what it’s worth, no President has been better for black people than Barack Obama as he was the manifestation of black people being apart of the team instead of just collecting laundry and dispensing water. When it comes to best Presidents for black people, Barack Obama is the equivalent of LeBron James in the best player in the NBA debate. All conversations are outside of him, for the assumption is that he is the best. Here are the nine best Presidents after Obama.
- Abraham Lincoln – Civil War And Emancipation Proclamation to end slavery.
- Ulysses S. Grant – Reconstruction and First War on Terror against the Ku Klux Klan
- LBJ – Voting Rights and Great Society
- Harry Truman – desegregation of federal government and military
- Eisenhower – Passed the Civil Rights Act of 1957 which, though watered down, did establish the United States Commission on Civil Rights and the United States Department of Justice Civil Rights Division.
- Bill Clinton – Integration the political consultant class in DC by being the first President to give Black people unprecedented access to the Oval Office.
- FDR – Had a “Black Cabinet” or “Black Brain Trust” called The Federal Council of Negro Affairs or Black Brain Trust who served as public policy advisors to he and his wife Eleanor in from 1933 to 1945.
- JFK – The Report to the American People on Civil Rights was a speech on civil rights, delivered on radio and television by United States President John F. Kennedy from the Oval Office on June 11, 1963 in which he proposed legislation that would later become the Civil Rights Act of 1964. Expressing civil rights as a moral issue, Kennedy moved past his previous appeals to legality and asserted that the pursuit of racial equality was a just cause signifying a shift in his administration’s policy towards strong support of the civil rights movement and played a significant role in shaping his legacy as a proponent of civil rights.
- Teddy Roosevelt – Invited Booker T Washington to dinner at the White House on October 16, 1901, for the purpose of talking over the situation of the Republican Party in the South. On that night, Washington dined with the Roosevelt family. The next day, a firestorm of vitriol broke out from Southern whites who called for Roosevelt’s impeachment. This stunned Roosevelt. While he continued to consult Washington, Roosevelt never invited him back to the White House.