According to information recently released from the Michigan Black
Chamber of Commerce, minority and women-owned businesses have been shut
out of the economic revitalization that has been on the rise in Detroit
in recent years.
President Obama recently declared that small businesses are
vital for the growth of the U.S. economy. According to
business data, this economic sector was awarded about $98.2 billion last
year. However, Black-owned businesses received only 7.2 percent, or
$7.1 billion, and Hispanic businesses were awarded just 8.4 percent, or
$8.21 billion. As market watchdogs point out, the awards given to these
groups are not reflecting their proportions to the total U.S.
Never mind the politics behind the debate over increasing the debt
ceiling. If the U.S. government eventually cannot pay all its bills,
will it matter to households, consumers and the economy? The
Atlanta Journal-Constitution in the past few days spoke to economists,
as well as to budget, banking and finance experts, to get the answers.