For Black Families, The Affordability Crisis is a Battle For Survival

I’ve seen it, and I know you’ve seen it too – the interviews with Trump voters, the Instagram lives after filling up at $5.00/gallon, the news conferences and the self-recorded videos across social media. White Trump supporters are slowly but surely waking up to the affordability crisis and the economic reality created by the Trump administration, and they’re regretting their decision.

I often say that there are a few ways people discuss economics, both micro and macro. I talk about how, in a personal way, the “feel-a-nomics” of economics we can feel, or even more personal Blackanomics.

Of course, I say the “economic reality” but maybe I should say Blackanomic because, in this country, Black folks have always been the canary in the coal mine.

When America smells smoke, Black America is on fire.

When America has a cold, Black America has pneumonia.

When America sees rain, Black America is running from a flood.

Let’s be clear. No matter what challenges we have faced in America – and we have faced more than our fair share – they all tie back to Blackanomics. And when I’m talking about Blackanomics, I don’t mean the macro talking points you hear on television. I don’t care about the exchange rate, the trade deficit or whether the stock market is up or down.

Blackanomics is the economics we can feel at the grocery store or across the kitchen table as we try to decide what bills we’re going to pay this month because we can’t pay all of them.

So let’s talk, because, since Donald Trump took office, we’ve been in a world of hurt.

We all know about the affordability crisis across this country. Prices are skyrocketing, and the layoffs are coming fast and furious. But, as tough as it is for all of us, Black families are bearing the brunt. In fact, the Trump war on DEI cost 300,000 Black women their jobs in one three-month span last year, 600,000 Black women are out of work right now, and, while we’re all looking at the 4.3% unemployment rate with fear and trembling, the Black unemployment rate is 7.3%.

Of course, when confronted with these numbers, Trump said, “Well, we’re doing very well with the Black jobs.”

Since Trump took office, the personal savings rate across America has been cut nearly in half as more and more of us are dipping into our savings to help stay afloat in tough times. 

Thanks to Trump’s refusal to extend the ACA healthcare subsidies, insurance premiums shot through the roof, and one out of every five Americans who signed up through the marketplace in open enrollment has lost their insurance because they couldn’t pay the new MAGA premiums.

Since Trump attacked Iran just two months ago, Americans have paid a combined $40 billion in increased gas costs. That hurts for everyone, but when the Black community was already so underserved, underpaid and downright ignored, it hurts even more.

Trump’s tariffs have devastated America’s farmers. There is no doubt. But if you’re a Black farmer, you also have to deal with the fact that Trump’s USDA canceled over $127 million in grants for Black farmers.

Foreclosures just spiked to 18%. Americans are facing $1.25 trillion in credit card debt, and 40% of cardholders can’t pay off their debt each month. People are using their credit cards to pay for the necessities they can no longer afford. But Kevin Hassett, the Director of the National Economic Council and Trump’s buddy, isn’t worried at all, because the credit card companies are having a great year.

Grocery prices soared higher in April than they have in four years, and a pound of ground beef is more expensive than the minimum wage.

None of this is good for anybody. But if you’re one of the more than half a million Black men who lost their jobs between November and February, it’s even worse.

Since Trump took office, more Black families are relying on the emergency room for their primary care because, thanks to the Big Beautiful Bill, new cuts and hurdles have kept two million children off Medicaid and CHIP. And even the ER option is disappearing for Black families who live in rural communities because 40% of our rural hospitals are operating at a loss if they’re even still open.

So, I’m sorry for all those folks who are starting to realize that their votes were instrumental in creating this crisis. I’m sorry your bills are too high. I’m sorry your farm is in trouble. I’m sorry you lost your job and I’m sorry hurricane season is going to take your house. But while you are just now starting to see the rain, we’ve been living in the flood for over a year.

I’m glad you’re starting to see the light. I really am. But let’s not pretend that we’re going to tag out just because you’re ready to tag in. Because while the midterm election is going to impact your bottom line, for us, it’s about survival.