What does the $14.3 trillion debt ceiling feud between President Barack Obama and House Republicans mean for African-Americans? And why should you care?
Blacks should be concerned and engaged, and more importantly, African-Americans should understand the magnitude of the federal fiscal debacle. The collapse of the debt ceiling means the nation cannot pay back its loans, can’t pay bills, would not cover government salaries and would stop allocating funding to Social Security, Medicare, tax refunds and food stamps.
Bottom line: Get involved in the debate.
“There are some real consequences at stake for the black community,” Valerie Jarrett, a senior White House advisor to President Obama, told BlackAmericaWeb.com. “The debate on Capitol Hill is no longer philosophical; it’s real. And the impact on African-Americans and the poor could be devastating.”
Democrats and Republicans have until Aug. 2 to resolve this mess before the chaos begins. Obama has been working behind the scenes with Republican House Majority Leader John Boehner and making calls to other GOP leaders in hopes of brokering a deal in the next few days.
Obama is showing some much-needed toughness with Republicans. In the past, he has consistently tried to offer Republicans a series of olive branches, only to have them thrown back in his face. The opposition’s show of disrespect toward him has been unprecedented, and still Obama maintains a conciliatory demeanor to keep the government running and spare Americans, who are already struggling, additional monumental grief. Read More on BlackAmerica.com
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