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Economy poll: African Americans, Hispanics were hit hardest but are most optimistic

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As a group Hispanics are reported to be hit hardest by this recession, harder than African Americans. In a Feb 9, Washington Post poll, both African Americans and Hispanics were optimistic about the future for the next generation, even with the dismal economic prospects, because things have improved greatly for this generation of black people and Hispanics compared to their parent's generation. And this progress is projected into the future. As a group the most pessimism was shown by white people. Whites say the Obama administration is doing very little for their families, and not doing enough for the middle class and working class Americans and small businesses. They were much more critical about the the administration's cozy relationship and doing "too much" for Wall Street financial institutions. By a 2 to 1 margin whites saw the Obama administration's economic program as harming the national economy.

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Washington Post polls show Blacks and Hispanics comparing their situation to their parent's generation and seeing the progress made. Minorities are more optimistic than whites about the future, according to the poll results.

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Economy poll: African Americans, Hispanics were hit hardest but are most optimistic

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Hispanics and blacks counted housing equity as a much bigger part of their assets than whites. The recession and financial crisis of 2008 wiped out fully two thirds of the median net worth of Hispanic families and one half for Black families, with both groups having close to $6000 in total median net worth in 2010, according to data from Pew surveys.The recession has proved to be severe in its impact on minorities, and the election of a black president has done little to improve things- especially considering the dismal record of the Obama administration in helping prevent foreclosures.

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