I’m what you might call a political newb so this might be an obvious question: why is Obama talking about redistributionist policies like credit cards and health care when the real problem in America, on this front at least, is Black poverty? What political costs would he pay that outweigh the large benefits of fixing this problem? Wouldn’t these costs would be relatively small for him? Or is it not about politics at all…is the problem just intractable?
Being an economist, I just assume redistributionist policy is easy. Maybe I’m wrong.