Cutting Deficit will Increase Retirement Gap Between Whites and Minorities

Applicant Dennis Bennett, 60, waits during a job fair at the Southeast LA-Crenshaw WorkSource Center in Los Angeles November 20, 2009. In a depressed neighborhood in the City of Angels, hundreds of good jobs appeared to fall from the sky last week. Young and middle-aged Los Angeles residents, mostly blacks and Hispanics, lined up down the block at an employment office for more than 600 jobs, paying $14 an hour and higher with free healthcare, at new JW Marriott and Ritz Carlton hotels downtown. Picture taken November 20, 2009.  REUTERS/Mario Anzuoni   (UNITED STATES EMPLOYMENT BUSINESS)

New research finds an appalling 20 to one chasm in net worth between white and black Americans, and an 18 to one gap between whites and Hispanics. The¬†Pew Research Center found that the net worth gap has widened during the Great Recession, mainly because the housing bust disproportionately cut into the wealth of African-Americans and […]