Republicans, Take From The Poor To Feed The Rich

-A +A
0

What are our nation's priorities, and when will the poor receive the same comprehensive lifeline as the rich and powerful? When will it end, and more importantly, how many more of these big corporations can the federal government become stakeholders in?

[Comment: Election 2008]



As the government bails out the largest insurance company in the world, American International Group (AIG) — more and more people are asking, "what about the least of these?"

While throwing an $85 billion lifeline to AIG to keep it afloat and prevent a meltdown of the global markets, unemployment in the U.S. now stands at 6.1%; 9.5 million people. Unemployment for Black males stands at over 10.6%, over 8% for Latinos. Nearly five million people lost their jobs in August. Over 45 million are still without health care, over 8% of who are children. Where is the lifeline for the least of these?

What are our nation's priorities, and when will the poor receive the same comprehensive lifeline as the rich and powerful? When will it end, and more importantly, how many more of these big corporations can the federal government become stakeholders in?

Over 300,000 or one in every 416 households received foreclosure notices in August, up 12% in one month. An estimated 2.8 million U.S. households will face foreclosure by the end of next year.

This year, the Federal Reserve bailed out Bear Sterns. The Treasury just absorbed Fannie Mae and Freddie Mac, adding another $5 trillion directly to U.S. debt, and putting at risk some $200 billion directly. Federal Reserve has promised to lend up to $85 billion to AIG. AIG is valued at $1 trillion. Taken into account this recent commitment will send the deficit over $500 billion this year.

Meanwhile over $10 billion a month is still being poured into the unjust and immoral war in Iraq.

A change in our nation's priorities is needed now. We cannot wait. Economic stability must be at the forefront of the candidates' agendas.



Rev. Jesse Jackson is founder of the Rainbow/PUSH Coalition and the nation’s foremost civil rights leader. The organization’s website is located at www.rainbowpush.org




To comment or to subscribe to or advertise in New York’s leading Pan African weekly investigative newspaper, or to send us a news tip, please call (212) 481-7745 or send a note to Milton@blackstarnews.com

Also visit out sister publications Harlem Business News www.harlembusinessnews.com and The Groove music magazine at www.thegroovemag.com

"Speaking Truth To Empower."


Also Check Out...

BRITS HONOR FIRST BLACK ARMY
A Tale of Two Cities
NEARLY HALF A MILLION JOIN ROUSING
Ntozake Shange speaks to
How Sweet It Is
MEDICAL CENTER TO HONOR SIERRA