Hispanic Heritage Month
A Message from Speaker Pelosi | Recent Events | Hispanics and The Bush Economy |
A Message from Speaker Pelosi
Hispanic Heritage Month honors the enormous contributions of Hispanic Americans to our country, and celebrates their achievements in the broad spectrum of American life: from business and education to music and sports. America has grown stronger through its diversity, and is surely a better place for the contributions of Hispanics.
As we celebrate Hispanic Heritage Month, every American should reflect on how we each can broaden opportunities for Hispanics. Democrats in Congress are committed to a New Direction agenda that extends to Hispanic Americans the opportunity to work hard, raise a family, and build their own American Dream.
May this Hispanic Heritage Month be a time of celebration. Let us recommit ourselves to strengthening opportunities for America’s Hispanic community.
September 15, 2008
The Congressional Hispanic Caucus>>
Speaker Pelosi hosted a housing foreclosure prevention and assistance workshop | Speaker Pelosi celebrating Cinco de Mayo |
Speaker Pelosi delivered the commencement address at Miami Dade College's North Campus | Speaker Pelosi with college students |
Speaker Pelosi with a Boy Scout troop in San Antonio, Texas | Speaker Pelosi with activist Dolores Huerta |
Hispanics and The Bush Economy
The Bush economy has not been good for many Hispanic families. Since President Bush has come into office, the Hispanic unemployment rate is up, Hispanic median household income is down, the number of uninsured Hispanics is up, and the number of Hispanics living in poverty is up. As family expenses continue to rise, many Hispanic families are struggling to make ends meet.
After seven and a half years of the Bush economy, now more than ever we need a new direction in economic policy. The Democratic-led Congress is fighting to begin to provide this New Direction – aimed at restoring broad-based growth, reducing the high costs of energy, college and health care, improving retirement security, and increasing prosperity for all Americans.
Unemployment Rate for Hispanics Has Jumped from 5.4% to 8.0% in One Year. The Hispanic unemployment rate has jumped dramatically in the past year – climbing from 5.4 percent in August 2007 to 8.0 percent in August 2008. The current unemployment rate of 8.0 percent for Hispanics is significantly higher than the current unemployment rate among whites of 5.4 percent. There are now 1.8 million Hispanic workers unemployed – 790,000 more than when President Bush took office.
Median Household Income of Hispanics Has Fallen by $1,256 Under President Bush. Instead of seeing their median income rise over the last seven years, Hispanic families have seen their median income drop. Between 2000 and 2007, Hispanic families have seen their median household income fall by $1,256. At the same time that their median income has fallen, their expenses have grown. Since 2000, the average price of gasoline has increased 145 percent, the average family health insurance premium has jumped 41 percent to $11,765, and the average cost of child care for two children has grown to $1,041 per month.
Number of Hispanics Living in Poverty Has Grown by 2.1 Million Under President Bush. Nationwide, 9.9 million Hispanics were living below the poverty line in 2007 – 2.1 million more than in 2000. Furthermore, there were 960,000 more poor Hispanic children in 2007 than there were in 2000.
Number of Uninsured Hispanics Has Grown by 3 Million Under President Bush. In 2007, there were 14.8 million Hispanics who had no health insurance – or 32.1 percent of the Hispanic population – which is 3 million more than in 2000. Across the country, the number of all Americans without health insurance totals 45.7 million in 2007 – which is 7.2 million more than in 2000.in 2007 – 3 million more than in 2000.
Hispanic Homeowners Are Suffering Under Subprime Mortgage Crisis. On the Bush Administration’s watch, unregulated mortgage originators were given financial incentives to sell risky, unaffordable subprime mortgages to vulnerable borrowers. Evidence suggests that those lenders targeted minority, elderly and female borrowers. During the subprime boom, Hispanic homebuyers were nearly two and a half times more likely than whites to receive a high-cost home loan. The Joint Economic Committee estimates the number of subprime foreclosures will total 2 million by the end of 2009; a disproportionate share will likely be Hispanic homeowners.