Great Recession

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Fiscal cliff most threatening for Blacks, other communities of color

Effects would add more hurt to Great Recession’s impact 

By Charles Hallman

Staff Writer


Low- and moderate-income people will immediately be adversely affected if the country plunges over “the fiscal cliff” at the beginning of the year, predicts a former Obama administration member. Automatic tax hikes and spending cuts will take place unless Congress and the White House reach an agreement by December 31. Last week, on a New America Media-scheduled teleconference with reporters, including the MSR, Center on Budget and Policy Priorities Senior Fellow Jared Bernstein said that “low-income people will feel [it] right away if we go over the fiscal cliff” on January 1.      

“Current conditions actually are very tough on low-income people,” said Bernstein. “Fifteen percent of the population are in poverty, and if you look at folk who are disproportionately low-income, African American poverty is closer to 28 percent [and] Hispanics at 25 percent. Continue Reading →

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