President Obama's Economic Policies Benefit Blacks

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excerpts from 'Part three of The Agenda: What Obama Has Done for You', a series of articles looking at President Barack Obama's record on issues that affect blacks:


The Root takes a look at the initiatives that have reaped the most benefits for black Americans:

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. . . a few job creation and training programs have been aimed directly at communities of color. The Recovery Act, for instance, provided $150 million for Pathways out of Poverty grants, which offered green job training to low-income youth and adults in underserved communities (read: minorities).

The president has also enacted the Stakeholder Outreach Initiative, which consists of teams established to assist small businesses with obtaining federal grants. According to a policy explanation sent from the White House, the teams "will focus on women, minorities, veterans and businesses based in underserved communities."

The Community Development Capital Initiative flew under the radar compared with the multibillion-dollar bailouts, but it was tremendously helpful for dozens of small banks nationwide. Using more than $580 million, the government floated cheap loans to nearly 100 banks and credit unions in markets underserved by traditional banks, thus freeing up those banks to lend to small businesses in their regions . . .

Much like health care reform, the Dodd-Frank Wall Street Reform and Consumer Protection Act is a landmark piece of legislation created under Obama's watch . . .

Besides protecting America's most vulnerable consumers, Wall Street reform also includes efforts to open up the financial industry to minority workers. An underreported section of the law gives the federal government the right to end contracts with firms that don't show a "fair inclusion" of ethnic-minority and female staffers . . .


full article: http://www.npr.org/templates/story/story.php?storyId=130888138