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Clinton and Obama’s Policies Created Progress—and a Deepening Class Divide in Black America

Date:

Black communities across the nation are suffering, and while systemic racism is a pervasive reality, we must also confront the uncomfortable truth that some of the policies enacted by leaders we have supported have contributed to our struggles. Bill Clinton and Obama, two iconic Democratic presidents, have long enjoyed enduring appeal among Black Americans. Clinton, famously dubbed “the first Black president,” resonated culturally and was seen as empathetic to Black struggles, while Obama’s historic presidency embodied hope and tangible progress. Their leadership galvanized the Black Democratic base, earning soaring approval ratings throughout their tenures.

However, we must have honest conversations about Democratic policies that have negatively affected Black communities and grapple with how to address their lasting impact. When we examine the policies Clinton and Obama enacted, a sobering reality emerges: while their intentions may have been to uplift the nation, many of their initiatives created or deepened a class divide within Black communities. By prioritizing crime reduction and higher education—admirable goals in themselves—they often perpetuated systemic inequities instead of dismantling them. The legacies of their presidencies tell a complex story of progress achieved at a profound cost to those who needed the most support.

Clinton’s Crime Bill: Safety for Some, Injustice for Many

President Bill Clinton’s 1994 Crime Bill was framed as a solution to rising crime rates, particularly in urban areas. It was enthusiastically backed by many Black leaders at the time, who saw it as a necessary response to combat violence disproportionately affecting their communities. However, the bill’s punitive approach—with its mandatory minimum sentences, “three strikes” laws, and incentives for states to build more prisons—brought devastating consequences that continue to harm Black communities today.

The policy disproportionately targeted and criminalized Black Americans, leading to the mass incarceration of Black men. Breadwinners were removed from families, communities were destabilized, and cycles of poverty were entrenched. Rather than addressing the root causes of crime—economic disinvestment, housing inequality, and lack of opportunity—the bill focused on aggressive policing and punishment, creating a lasting legacy of over-policing in Black neighborhoods. Today, Black communities continue to suffer under harsh policing practices that stem from these policies, fostering mistrust between law enforcement and the very communities they are supposed to protect.

This disparity is starkly evident in how drug crises are treated. While the current fentanyl epidemic often elicits calls for treatment and compassion, the crack epidemic of the 1980s and 1990s was met with a “lock them up and throw away the key” mentality, disproportionately targeting Black individuals. The policies stemming from the Crime Bill not only reinforced a punitive approach to addiction but also perpetuated systemic inequities in how public health and criminal justice intersect.

While wealthier Black Americans were better positioned to avoid the harshest impacts of these policies, those in impoverished neighborhoods bore the brunt of aggressive sentencing and over-policing. The Crime Bill inadvertently solidified a class divide within Black communities: one segment that could access upward mobility and another left trapped in cycles of incarceration and marginalization. Today, the Black community is still reckoning with the fallout of these decisions, highlighting the urgent need for policies that prioritize restoration over punishment.

Bill Clinton’s 1993 North American Free Trade Agreement (NAFTA)

Bill Clinton’s 1993 North American Free Trade Agreement (NAFTA) transformed the American economy, but its impact left many Black communities and manual laborers significantly worse off. While NAFTA aimed to expand trade between the U.S., Mexico, and Canada, its implementation led to a sharp decline in manufacturing jobs in industries like textiles and automotive production—fields that had historically provided Black workers, particularly men, with stable employment and pathways to the middle class. As factories closed or relocated to Mexico to take advantage of cheaper labor, predominantly Black urban areas that depended on these jobs experienced economic devastation. While many Black women pursued college as a means of economic advancement, Black men faced dwindling job opportunities, creating a domino effect that destabilized traditional family structures. The resulting unemployment and underemployment eroded Black men’s financial roles within households, intensifying socioeconomic stress and widening gender disparities. While wealthier Americans benefited from lower prices and expanded trade, Black workers in manual labor suffered disproportionately, further deepening systemic social and economic inequities.

NAFTA’s consequences were especially profound in the automotive industry and had a lasting impact on Black communities. General Motors (GM), once a pillar of Black America’s middle class, had provided well-paying, stable manufacturing jobs that allowed many Black families to build financial security and achieve upward mobility. However, after NAFTA, automakers like GM increasingly shifted production to Mexico to cut costs, resulting in the closure of U.S. plants and the loss of thousands of jobs. Cities like Detroit, where Black workers made up a significant share of the auto industry workforce, were particularly hard-hit. This shift not only dismantled a critical pathway to economic stability for Black Americans but also undermined their ability to afford the vehicles they had once helped build.

Although NAFTA streamlined supply chains and reduced production costs, enabling automakers to sell cars more competitively, these benefits were unevenly distributed. While lower car prices increased overall sales, Black and working-class families, displaced by job losses, had less purchasing power and diminished economic opportunities. GM, once a symbol of prosperity for Black America, no longer serves as the economic engine it once was, as job relocation has eroded its role as a gateway to the middle class.

Furthermore, NAFTA influenced the types of vehicles produced, as manufacturers prioritized smaller, fuel-efficient models for global markets. While this boosted international competitiveness, it further marginalized Black workers, whose communities bore the brunt of job losses. NAFTA epitomizes a stark tension: while it benefited consumers with cheaper goods, it dismantled the manufacturing jobs that were the backbone of Black America’s economic stability, leaving vulnerable communities struggling with deeper instability and fewer opportunities for advancement.

Obama’s Education Focus: Progress at the Expense of Equity

The Obama administration’s strong emphasis on higher education, while aimed at fostering upward mobility, overlooked significant structural barriers faced by Black Americans, particularly those from lower-income families. For many, higher education became a pathway to crippling debt rather than prosperity. Black students were more likely to take out loans than their White counterparts, and persistent racial wage gaps meant they struggled to repay these loans at the same rate. As a result, Black college graduates often began their careers saddled with significant financial burdens, widening the racial wealth gap instead of narrowing it.

One of the administration’s biggest missteps was its failure to equally prioritize vocational training and skilled trades. Careers in fields like plumbing and electrical work offer stable, family-sustaining incomes with far less debt than a college education. For example, a master plumber or electrician can earn between $60,000 and $100,000 annually, with many surpassing six figures, while the median salary for college graduates is about $55,000—often offset by tens of thousands of dollars in student loan debt. Despite this, vocational paths were largely de-emphasized, leaving a critical opportunity for economic mobility underdeveloped.

This neglect created a deeper divide within Black communities, separating a growing middle class of college-educated individuals from those left behind, burdened by debt or unable to access higher education at all. For many Black Americans, skilled trades could have provided quicker, more accessible pathways to financial stability, offering opportunities for entrepreneurship and wealth creation. By not giving vocational training equal weight, the Obama administration missed an opportunity to create broader, more equitable avenues to economic success, inadvertently reinforcing systemic disparities and leaving too many Black Americans without viable paths to prosperity.

Obama Bailout of Banks and not the Black Community

During the Obama administration, the continuation of the Troubled Asset Relief Program (TARP) resulted in banks receiving a staggering $245 billion in direct assistance, further cementing the perception among many in the Black lower class that the government prioritized Wall Street over their communities. This bailout, part of a broader effort to stabilize the financial system following the Great Recession, was widely viewed as a betrayal by struggling Black families who received little to no comparable relief. While banks and financial institutions that had caused the economic collapse were propped up with federal aid, Black homeowners—many of whom were disproportionately affected by predatory lending practices—were left to fend for themselves. Homeownership, a crucial pathway to wealth for Black Americans, plummeted during this period, with no equivalent bailout to help working-class and lower-income families keep their homes or recover financially. For many, the image of Wall Street executives receiving lifelines while foreclosures ravaged Black neighborhoods symbolized a glaring neglect of Main Street and a reinforcement of systemic inequities. This neglect deepened feelings of alienation and distrust, as the Obama administration’s actions seemed to favor the elite over vulnerable families.

The Great Recession and the subsequent foreclosure crisis marked the most significant loss of real estate wealth for Black Americans in modern history, erasing decades of progress in homeownership and wealth-building. Black homeownership rates, which had peaked at 49% in 2004, fell to around 40% by 2016, wiping out gains achieved during the post-Civil Rights era. Predatory lending practices disproportionately targeted Black borrowers, saddling them with subprime loans featuring high interest rates and exploitative terms, even when they qualified for prime loans. As a result, Black homeowners were 76% more likely than White homeowners to face foreclosure, leading to widespread displacement and economic devastation across Black communities.

The scale of the loss was catastrophic. Black families collectively lost over $1 trillion in home equity and wealth, a devastating blow to intergenerational financial stability. For many Black households, their homes represented their most significant assets, and losing them meant not only immediate displacement but also the destruction of wealth-building opportunities for future generations. Entire neighborhoods in urban centers were gutted by foreclosures, resulting in blight, declining property values, and eroded public services. This devastation worsened economic instability and further widened the racial wealth gap, with the median net worth of White households ballooning to 13 times that of Black households by 2013.

While the Obama administration introduced programs like the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP), these efforts were underfunded, poorly executed, and relied heavily on the cooperation of banks that had little incentive to help struggling homeowners. Meanwhile, those same banks had received billions through TARP, further solidifying the perception that the federal government was more concerned with stabilizing financial institutions than addressing the economic devastation facing Black communities. This failure to provide targeted relief to Black homeowners not only reinforced systemic inequities but also marked one of the greatest betrayals of vulnerable families during a time of unprecedented economic crisis.

Creating a Class System Instead of Lifting All Boats

A ruling class system within the Black community has emerged over the years, fueled by policies that inadvertently deepened divides rather than fostering unity. Obama’s push for higher education, while laudable, widened the gap between those who could afford the climb and those left behind. This divide has grown increasingly visible, culminating in notable shifts in Black voter behavior, such as the highest percentage of Black voters supporting Donald Trump in recent elections. Despite Democrats labeling Trump a racist, this was not enough to quell the growing discontent among Black Americans who feel abandoned by the policies of the Democratic Party—policies that began with Clinton and were cemented by Obama.

The policies of both Clinton and Obama, though well-intentioned, have relegated Black Americans as a whole to a consumer class, creating a growing divide within Black communities. Clinton’s crime bill disproportionately targeted low-income Black Americans, entrenching cycles of poverty and incarceration that stripped many families of financial and social stability. Obama’s education initiatives, while opening doors for some, often left lower-income Black Americans burdened with student debt, struggling to translate degrees into generational wealth, and unable to close the racial wealth gap.

Meanwhile, systemic barriers have left Black Americans underrepresented in business ownership, with only 2.4% of U.S. businesses being Black-owned, despite Black people making up over 13% of the population. Educated Black Americans are more likely to work for White-owned companies than to start their own businesses. This reality reflects a lack of targeted policies encouraging entrepreneurship and wealth creation in Black communities. At the same time, uneducated Black Americans are often confined to lower-wage jobs, as vocational careers were not prioritized under these policies, leaving a critical pathway to stable employment underdeveloped.

As long as we continue to prop up individual success stories—celebrating Black athletes, entertainers, or corporate trailblazers—there is an illusion that Black people as a group are thriving. This distracts from the systemic inequities that have left large portions of the community struggling with stagnant wages, lack of economic mobility, and disproportionate reliance on consumerism rather than ownership. The legacy of Clinton and Obama has been a widening class divide that reinforces systemic disparities, leaving many Black Americans on the margins of economic prosperity.

The Enduring Appeal of Symbolism

Despite these shortcomings, Clinton and Obama maintained strong support from Black Americans, a testament to their cultural resonance and symbolic importance. Clinton’s outreach to Black leaders created a sense of partnership and empathy, while Obama’s historic presidency shattered racial barriers, offering hope and inspiration in ways that policy alone could not. These symbolic victories, while significant, often masked the deeper structural inequalities that their policies left unaddressed.

This unwavering support highlights a critical tension: Black Americans have celebrated representation as a victory, even as systemic inequities have persisted. Clinton and Obama’s enduring popularity underscores the yearning for leadership that recognizes and includes Black voices. However, it also reveals the limitations of symbolism without substantive, transformative change. True progress demands that we move beyond the optics of representation to focus on policies that uplift the collective, ensuring that the successes of the few do not obscure the struggles of the many.

I have always said that Black people love symbolism more than substance, and for the last 30 years, we have been immersed in it. We have allowed the allure of “firsts”—the first Black this, the first Black that—to overshadow the pursuit of policies that truly uplift the entire community. We have taken our eyes off the prize, distracted by the flattery of representation, and failed to hold leaders accountable for the tangible outcomes of their actions. The upset of VP Kamala Harris against Donald Trump reflected a growing pushback against this reliance on Black symbolism, signaling a collective reckoning with the realities that Black Americans, particularly the middle class, faced under Obama. It was a reminder of what happens when we prioritize individual success stories over policies designed to benefit the whole community

A Path Forward: Equity Over Symbolism

The presidencies of Clinton and Obama left a lasting impact on Black Americans, particularly the middle class and working poor, yet their policies often fell short of delivering the transformative change they promised. Clinton’s 1994 Crime Bill disproportionately incarcerated Black men, destabilizing families and communities, while Obama’s focus on higher education left many Black Americans burdened with student debt and excluded from vocational opportunities that could have offered economic stability. These policies prioritized symbolic victories over substantive reform, leaving many Black Americans feeling abandoned by a Democratic Party that appeared to focus more on elites than the struggles of ordinary people.

This disconnect from the needs of working-class Americans, including many Black voters, is part of why Donald Trump was able to secure victory. Despite being painted as a racist, Trump’s message resonated with segments of the Black community and other working-class voters. He spoke directly to the needs of those making $55,000 or less, addressing issues like factory and vocational jobs, affordable groceries, and economic stability—concerns Democrats largely overlooked. While some Black voters believed Trump’s rhetoric offered a chance for change, others simply stayed home, feeling disillusioned with a Democratic Party they perceived as out of touch and uninterested in policies that lifted all boats.

This dynamic highlights a significant shift: Black voters, who historically supported Democrats, began questioning whether the party truly believed in the ideals of broad-based economic progress. Democrats’ inability to convincingly address the systemic challenges facing working-class and middle-class Black Americans created an opening for Trump. Whether through increased support from Black voters or lower turnout among those disillusioned with traditional Democratic leadership, Trump gained the edge he needed to win.

Moving forward, Black Americans must demand policies that address systemic inequities rather than relying on symbolic gestures. True progress will come from leaders who prioritize vocational training, economic development, criminal justice reform, and equitable education systems over empty promises. Democrats must reckon with this reality if they hope to regain the trust of disillusioned voters and deliver meaningful change for all communities.

Here is a comprehensive list of references and sources that support the content of the op-ed:


Bank Bailouts and TARP

  1. Amount Allocated to Banks:
  • Troubled Asset Relief Program (TARP) reports by the U.S. Department of the Treasury.
  • Congressional Budget Office (CBO) analysis of TARP expenditures and repayments.
  1. Bank Bailouts:
  • Reports from The Atlantic and The New York Times on how TARP favored Wall Street over struggling homeowners.
  • Analysis from the Center for Responsible Lending on the disproportionate impact of the financial crisis on Black homeowners.

Foreclosure Crisis and Black Homeownership

  1. Decline in Black Homeownership:
  • U.S. Census Bureau data on homeownership rates by race (2004–2016).
  • Pew Research Center analysis of the foreclosure crisis and its impact on minority communities.
  1. Loss of Black Real Estate Wealth:
  • Center for Responsible Lending reports on predatory lending practices targeting Black homeowners.
  • Urban Institute studies on wealth loss and foreclosure rates among Black families.
  1. Predatory Lending Practices:
  • Studies by the National Community Reinvestment Coalition and the Federal Reserve Bank of Chicago on the targeting of subprime loans to Black borrowers.
  1. Widening Racial Wealth Gap:
  • Brookings Institution reports on wealth disparities exacerbated by the Great Recession.
  • Federal Reserve data showing the median wealth of Black vs. White households post-recession.

Obama Administration Policies

  1. Home Affordable Modification Program (HAMP) and Home Affordable Refinance Program (HARP):
  • U.S. Department of Housing and Urban Development (HUD) assessments of HAMP and HARP effectiveness.
  • Critiques from the National Consumer Law Center on the limitations of these programs.
  1. Neglect of Targeted Relief:
  • Reports from the Economic Policy Institute and the Brennan Center for Justice on the lack of direct support for Black communities during the recovery.

Systemic Inequities and Economic Impact

  1. Loss of Wealth in Black Communities:
  • Analysis by the Institute for Policy Studies on the $1 trillion wealth loss in Black communities during the Great Recession.
  • Reports by the NAACP on the long-term effects of the foreclosure crisis on Black neighborhoods.
  1. Structural Inequalities in Housing:
    • Historical studies from the Harvard Joint Center for Housing Studies on redlining and systemic barriers to homeownership for Black Americans.

Political and Social Perceptions

  1. Criticism of the Obama Administration:
    • Articles from Politico and The Washington Post examining disillusionment among Black voters regarding the administration’s handling of the foreclosure crisis.
    • Pew Research Center analysis of Black voter turnout trends during the Obama years.
  2. Impact of the Great Recession on Public Trust:
    • Gallup polls and studies on public trust in government during the recession, with a focus on racial disparities in perceptions of fairness.
  3. The Role of Predatory Lending in Black Wealth Loss:
    • Reports from the Center for Responsible Lending and the National Fair Housing Alliance on how predatory lending practices disproportionately affected Black communities.

!

DAMON K JONES
DAMON K JONEShttps://damonkjones.com
A multifaceted personality, Damon is an activist, author, and the force behind Black Westchester Magazine, a notable Black-owned newspaper based in Westchester County, New York. With a wide array of expertise, he wears many hats, including that of a Spiritual Life Coach, Couples and Family Therapy Coach, and Holistic Health Practitioner. He is well-versed in Mental Health First Aid, Dietary and Nutritional Counseling, and has significant insights as a Vegan and Vegetarian Nutrition Life Coach. Not just limited to the world of holistic health and activism, Damon brings with him a rich 32-year experience as a Law Enforcement Practitioner and stands as the New York Representative of Blacks in Law Enforcement of America.

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Black 2 Business

Black communities across the nation are suffering, and while systemic racism is a pervasive reality, we must also confront the uncomfortable truth that some of the policies enacted by leaders we have supported have contributed to our struggles. Bill Clinton and Obama, two iconic Democratic presidents, have long enjoyed enduring appeal among Black Americans. Clinton, famously dubbed “the first Black president,” resonated culturally and was seen as empathetic to Black struggles, while Obama’s historic presidency embodied hope and tangible progress. Their leadership galvanized the Black Democratic base, earning soaring approval ratings throughout their tenures.

However, we must have honest conversations about Democratic policies that have negatively affected Black communities and grapple with how to address their lasting impact. When we examine the policies Clinton and Obama enacted, a sobering reality emerges: while their intentions may have been to uplift the nation, many of their initiatives created or deepened a class divide within Black communities. By prioritizing crime reduction and higher education—admirable goals in themselves—they often perpetuated systemic inequities instead of dismantling them. The legacies of their presidencies tell a complex story of progress achieved at a profound cost to those who needed the most support.

Clinton’s Crime Bill: Safety for Some, Injustice for Many

President Bill Clinton’s 1994 Crime Bill was framed as a solution to rising crime rates, particularly in urban areas. It was enthusiastically backed by many Black leaders at the time, who saw it as a necessary response to combat violence disproportionately affecting their communities. However, the bill’s punitive approach—with its mandatory minimum sentences, “three strikes” laws, and incentives for states to build more prisons—brought devastating consequences that continue to harm Black communities today.

The policy disproportionately targeted and criminalized Black Americans, leading to the mass incarceration of Black men. Breadwinners were removed from families, communities were destabilized, and cycles of poverty were entrenched. Rather than addressing the root causes of crime—economic disinvestment, housing inequality, and lack of opportunity—the bill focused on aggressive policing and punishment, creating a lasting legacy of over-policing in Black neighborhoods. Today, Black communities continue to suffer under harsh policing practices that stem from these policies, fostering mistrust between law enforcement and the very communities they are supposed to protect.

This disparity is starkly evident in how drug crises are treated. While the current fentanyl epidemic often elicits calls for treatment and compassion, the crack epidemic of the 1980s and 1990s was met with a “lock them up and throw away the key” mentality, disproportionately targeting Black individuals. The policies stemming from the Crime Bill not only reinforced a punitive approach to addiction but also perpetuated systemic inequities in how public health and criminal justice intersect.

While wealthier Black Americans were better positioned to avoid the harshest impacts of these policies, those in impoverished neighborhoods bore the brunt of aggressive sentencing and over-policing. The Crime Bill inadvertently solidified a class divide within Black communities: one segment that could access upward mobility and another left trapped in cycles of incarceration and marginalization. Today, the Black community is still reckoning with the fallout of these decisions, highlighting the urgent need for policies that prioritize restoration over punishment.

Bill Clinton’s 1993 North American Free Trade Agreement (NAFTA)

Bill Clinton’s 1993 North American Free Trade Agreement (NAFTA) transformed the American economy, but its impact left many Black communities and manual laborers significantly worse off. While NAFTA aimed to expand trade between the U.S., Mexico, and Canada, its implementation led to a sharp decline in manufacturing jobs in industries like textiles and automotive production—fields that had historically provided Black workers, particularly men, with stable employment and pathways to the middle class. As factories closed or relocated to Mexico to take advantage of cheaper labor, predominantly Black urban areas that depended on these jobs experienced economic devastation. While many Black women pursued college as a means of economic advancement, Black men faced dwindling job opportunities, creating a domino effect that destabilized traditional family structures. The resulting unemployment and underemployment eroded Black men’s financial roles within households, intensifying socioeconomic stress and widening gender disparities. While wealthier Americans benefited from lower prices and expanded trade, Black workers in manual labor suffered disproportionately, further deepening systemic social and economic inequities.

NAFTA’s consequences were especially profound in the automotive industry and had a lasting impact on Black communities. General Motors (GM), once a pillar of Black America’s middle class, had provided well-paying, stable manufacturing jobs that allowed many Black families to build financial security and achieve upward mobility. However, after NAFTA, automakers like GM increasingly shifted production to Mexico to cut costs, resulting in the closure of U.S. plants and the loss of thousands of jobs. Cities like Detroit, where Black workers made up a significant share of the auto industry workforce, were particularly hard-hit. This shift not only dismantled a critical pathway to economic stability for Black Americans but also undermined their ability to afford the vehicles they had once helped build.

Although NAFTA streamlined supply chains and reduced production costs, enabling automakers to sell cars more competitively, these benefits were unevenly distributed. While lower car prices increased overall sales, Black and working-class families, displaced by job losses, had less purchasing power and diminished economic opportunities. GM, once a symbol of prosperity for Black America, no longer serves as the economic engine it once was, as job relocation has eroded its role as a gateway to the middle class.

Furthermore, NAFTA influenced the types of vehicles produced, as manufacturers prioritized smaller, fuel-efficient models for global markets. While this boosted international competitiveness, it further marginalized Black workers, whose communities bore the brunt of job losses. NAFTA epitomizes a stark tension: while it benefited consumers with cheaper goods, it dismantled the manufacturing jobs that were the backbone of Black America’s economic stability, leaving vulnerable communities struggling with deeper instability and fewer opportunities for advancement.

Obama’s Education Focus: Progress at the Expense of Equity

The Obama administration’s strong emphasis on higher education, while aimed at fostering upward mobility, overlooked significant structural barriers faced by Black Americans, particularly those from lower-income families. For many, higher education became a pathway to crippling debt rather than prosperity. Black students were more likely to take out loans than their White counterparts, and persistent racial wage gaps meant they struggled to repay these loans at the same rate. As a result, Black college graduates often began their careers saddled with significant financial burdens, widening the racial wealth gap instead of narrowing it.

One of the administration’s biggest missteps was its failure to equally prioritize vocational training and skilled trades. Careers in fields like plumbing and electrical work offer stable, family-sustaining incomes with far less debt than a college education. For example, a master plumber or electrician can earn between $60,000 and $100,000 annually, with many surpassing six figures, while the median salary for college graduates is about $55,000—often offset by tens of thousands of dollars in student loan debt. Despite this, vocational paths were largely de-emphasized, leaving a critical opportunity for economic mobility underdeveloped.

This neglect created a deeper divide within Black communities, separating a growing middle class of college-educated individuals from those left behind, burdened by debt or unable to access higher education at all. For many Black Americans, skilled trades could have provided quicker, more accessible pathways to financial stability, offering opportunities for entrepreneurship and wealth creation. By not giving vocational training equal weight, the Obama administration missed an opportunity to create broader, more equitable avenues to economic success, inadvertently reinforcing systemic disparities and leaving too many Black Americans without viable paths to prosperity.

Obama Bailout of Banks and not the Black Community

During the Obama administration, the continuation of the Troubled Asset Relief Program (TARP) resulted in banks receiving a staggering $245 billion in direct assistance, further cementing the perception among many in the Black lower class that the government prioritized Wall Street over their communities. This bailout, part of a broader effort to stabilize the financial system following the Great Recession, was widely viewed as a betrayal by struggling Black families who received little to no comparable relief. While banks and financial institutions that had caused the economic collapse were propped up with federal aid, Black homeowners—many of whom were disproportionately affected by predatory lending practices—were left to fend for themselves. Homeownership, a crucial pathway to wealth for Black Americans, plummeted during this period, with no equivalent bailout to help working-class and lower-income families keep their homes or recover financially. For many, the image of Wall Street executives receiving lifelines while foreclosures ravaged Black neighborhoods symbolized a glaring neglect of Main Street and a reinforcement of systemic inequities. This neglect deepened feelings of alienation and distrust, as the Obama administration’s actions seemed to favor the elite over vulnerable families.

The Great Recession and the subsequent foreclosure crisis marked the most significant loss of real estate wealth for Black Americans in modern history, erasing decades of progress in homeownership and wealth-building. Black homeownership rates, which had peaked at 49% in 2004, fell to around 40% by 2016, wiping out gains achieved during the post-Civil Rights era. Predatory lending practices disproportionately targeted Black borrowers, saddling them with subprime loans featuring high interest rates and exploitative terms, even when they qualified for prime loans. As a result, Black homeowners were 76% more likely than White homeowners to face foreclosure, leading to widespread displacement and economic devastation across Black communities.

The scale of the loss was catastrophic. Black families collectively lost over $1 trillion in home equity and wealth, a devastating blow to intergenerational financial stability. For many Black households, their homes represented their most significant assets, and losing them meant not only immediate displacement but also the destruction of wealth-building opportunities for future generations. Entire neighborhoods in urban centers were gutted by foreclosures, resulting in blight, declining property values, and eroded public services. This devastation worsened economic instability and further widened the racial wealth gap, with the median net worth of White households ballooning to 13 times that of Black households by 2013.

While the Obama administration introduced programs like the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP), these efforts were underfunded, poorly executed, and relied heavily on the cooperation of banks that had little incentive to help struggling homeowners. Meanwhile, those same banks had received billions through TARP, further solidifying the perception that the federal government was more concerned with stabilizing financial institutions than addressing the economic devastation facing Black communities. This failure to provide targeted relief to Black homeowners not only reinforced systemic inequities but also marked one of the greatest betrayals of vulnerable families during a time of unprecedented economic crisis.

Creating a Class System Instead of Lifting All Boats

A ruling class system within the Black community has emerged over the years, fueled by policies that inadvertently deepened divides rather than fostering unity. Obama’s push for higher education, while laudable, widened the gap between those who could afford the climb and those left behind. This divide has grown increasingly visible, culminating in notable shifts in Black voter behavior, such as the highest percentage of Black voters supporting Donald Trump in recent elections. Despite Democrats labeling Trump a racist, this was not enough to quell the growing discontent among Black Americans who feel abandoned by the policies of the Democratic Party—policies that began with Clinton and were cemented by Obama.

The policies of both Clinton and Obama, though well-intentioned, have relegated Black Americans as a whole to a consumer class, creating a growing divide within Black communities. Clinton’s crime bill disproportionately targeted low-income Black Americans, entrenching cycles of poverty and incarceration that stripped many families of financial and social stability. Obama’s education initiatives, while opening doors for some, often left lower-income Black Americans burdened with student debt, struggling to translate degrees into generational wealth, and unable to close the racial wealth gap.

Meanwhile, systemic barriers have left Black Americans underrepresented in business ownership, with only 2.4% of U.S. businesses being Black-owned, despite Black people making up over 13% of the population. Educated Black Americans are more likely to work for White-owned companies than to start their own businesses. This reality reflects a lack of targeted policies encouraging entrepreneurship and wealth creation in Black communities. At the same time, uneducated Black Americans are often confined to lower-wage jobs, as vocational careers were not prioritized under these policies, leaving a critical pathway to stable employment underdeveloped.

As long as we continue to prop up individual success stories—celebrating Black athletes, entertainers, or corporate trailblazers—there is an illusion that Black people as a group are thriving. This distracts from the systemic inequities that have left large portions of the community struggling with stagnant wages, lack of economic mobility, and disproportionate reliance on consumerism rather than ownership. The legacy of Clinton and Obama has been a widening class divide that reinforces systemic disparities, leaving many Black Americans on the margins of economic prosperity.

The Enduring Appeal of Symbolism

Despite these shortcomings, Clinton and Obama maintained strong support from Black Americans, a testament to their cultural resonance and symbolic importance. Clinton’s outreach to Black leaders created a sense of partnership and empathy, while Obama’s historic presidency shattered racial barriers, offering hope and inspiration in ways that policy alone could not. These symbolic victories, while significant, often masked the deeper structural inequalities that their policies left unaddressed.

This unwavering support highlights a critical tension: Black Americans have celebrated representation as a victory, even as systemic inequities have persisted. Clinton and Obama’s enduring popularity underscores the yearning for leadership that recognizes and includes Black voices. However, it also reveals the limitations of symbolism without substantive, transformative change. True progress demands that we move beyond the optics of representation to focus on policies that uplift the collective, ensuring that the successes of the few do not obscure the struggles of the many.

I have always said that Black people love symbolism more than substance, and for the last 30 years, we have been immersed in it. We have allowed the allure of “firsts”—the first Black this, the first Black that—to overshadow the pursuit of policies that truly uplift the entire community. We have taken our eyes off the prize, distracted by the flattery of representation, and failed to hold leaders accountable for the tangible outcomes of their actions. The upset of VP Kamala Harris against Donald Trump reflected a growing pushback against this reliance on Black symbolism, signaling a collective reckoning with the realities that Black Americans, particularly the middle class, faced under Obama. It was a reminder of what happens when we prioritize individual success stories over policies designed to benefit the whole community

A Path Forward: Equity Over Symbolism

The presidencies of Clinton and Obama left a lasting impact on Black Americans, particularly the middle class and working poor, yet their policies often fell short of delivering the transformative change they promised. Clinton’s 1994 Crime Bill disproportionately incarcerated Black men, destabilizing families and communities, while Obama’s focus on higher education left many Black Americans burdened with student debt and excluded from vocational opportunities that could have offered economic stability. These policies prioritized symbolic victories over substantive reform, leaving many Black Americans feeling abandoned by a Democratic Party that appeared to focus more on elites than the struggles of ordinary people.

This disconnect from the needs of working-class Americans, including many Black voters, is part of why Donald Trump was able to secure victory. Despite being painted as a racist, Trump’s message resonated with segments of the Black community and other working-class voters. He spoke directly to the needs of those making $55,000 or less, addressing issues like factory and vocational jobs, affordable groceries, and economic stability—concerns Democrats largely overlooked. While some Black voters believed Trump’s rhetoric offered a chance for change, others simply stayed home, feeling disillusioned with a Democratic Party they perceived as out of touch and uninterested in policies that lifted all boats.

This dynamic highlights a significant shift: Black voters, who historically supported Democrats, began questioning whether the party truly believed in the ideals of broad-based economic progress. Democrats’ inability to convincingly address the systemic challenges facing working-class and middle-class Black Americans created an opening for Trump. Whether through increased support from Black voters or lower turnout among those disillusioned with traditional Democratic leadership, Trump gained the edge he needed to win.

Moving forward, Black Americans must demand policies that address systemic inequities rather than relying on symbolic gestures. True progress will come from leaders who prioritize vocational training, economic development, criminal justice reform, and equitable education systems over empty promises. Democrats must reckon with this reality if they hope to regain the trust of disillusioned voters and deliver meaningful change for all communities.

Here is a comprehensive list of references and sources that support the content of the op-ed:


Bank Bailouts and TARP

  1. Amount Allocated to Banks:
  • Troubled Asset Relief Program (TARP) reports by the U.S. Department of the Treasury.
  • Congressional Budget Office (CBO) analysis of TARP expenditures and repayments.
  1. Bank Bailouts:
  • Reports from The Atlantic and The New York Times on how TARP favored Wall Street over struggling homeowners.
  • Analysis from the Center for Responsible Lending on the disproportionate impact of the financial crisis on Black homeowners.

Foreclosure Crisis and Black Homeownership

  1. Decline in Black Homeownership:
  • U.S. Census Bureau data on homeownership rates by race (2004–2016).
  • Pew Research Center analysis of the foreclosure crisis and its impact on minority communities.
  1. Loss of Black Real Estate Wealth:
  • Center for Responsible Lending reports on predatory lending practices targeting Black homeowners.
  • Urban Institute studies on wealth loss and foreclosure rates among Black families.
  1. Predatory Lending Practices:
  • Studies by the National Community Reinvestment Coalition and the Federal Reserve Bank of Chicago on the targeting of subprime loans to Black borrowers.
  1. Widening Racial Wealth Gap:
  • Brookings Institution reports on wealth disparities exacerbated by the Great Recession.
  • Federal Reserve data showing the median wealth of Black vs. White households post-recession.

Obama Administration Policies

  1. Home Affordable Modification Program (HAMP) and Home Affordable Refinance Program (HARP):
  • U.S. Department of Housing and Urban Development (HUD) assessments of HAMP and HARP effectiveness.
  • Critiques from the National Consumer Law Center on the limitations of these programs.
  1. Neglect of Targeted Relief:
  • Reports from the Economic Policy Institute and the Brennan Center for Justice on the lack of direct support for Black communities during the recovery.

Systemic Inequities and Economic Impact

  1. Loss of Wealth in Black Communities:
  • Analysis by the Institute for Policy Studies on the $1 trillion wealth loss in Black communities during the Great Recession.
  • Reports by the NAACP on the long-term effects of the foreclosure crisis on Black neighborhoods.
  1. Structural Inequalities in Housing:
    • Historical studies from the Harvard Joint Center for Housing Studies on redlining and systemic barriers to homeownership for Black Americans.

Political and Social Perceptions

  1. Criticism of the Obama Administration:
    • Articles from Politico and The Washington Post examining disillusionment among Black voters regarding the administration’s handling of the foreclosure crisis.
    • Pew Research Center analysis of Black voter turnout trends during the Obama years.
  2. Impact of the Great Recession on Public Trust:
    • Gallup polls and studies on public trust in government during the recession, with a focus on racial disparities in perceptions of fairness.
  3. The Role of Predatory Lending in Black Wealth Loss:
    • Reports from the Center for Responsible Lending and the National Fair Housing Alliance on how predatory lending practices disproportionately affected Black communities.

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DAMON K JONES
DAMON K JONEShttps://damonkjones.com
A multifaceted personality, Damon is an activist, author, and the force behind Black Westchester Magazine, a notable Black-owned newspaper based in Westchester County, New York. With a wide array of expertise, he wears many hats, including that of a Spiritual Life Coach, Couples and Family Therapy Coach, and Holistic Health Practitioner. He is well-versed in Mental Health First Aid, Dietary and Nutritional Counseling, and has significant insights as a Vegan and Vegetarian Nutrition Life Coach. Not just limited to the world of holistic health and activism, Damon brings with him a rich 32-year experience as a Law Enforcement Practitioner and stands as the New York Representative of Blacks in Law Enforcement of America.

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