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US economy lost trillions of dollars to racism

A study over the past 20 years showed that black entrepreneurs found it more difficult to obtain credit, and black employees earned less than their white colleagues.

The U.S. economy has lost about $16 trillion to racism over the past 20 years. This is evidenced by a study by the American bank Citigroup published on Friday, September 25.

Black entrepreneurs have faced problems getting credit, so the country has lost $13 trillion. It also prevented the creation of 6.1 million jobs.

In addition, the pay gap between white and black workers cost the United States another 2.7 trillion dollars.

Also, the loss of 218 billion dollars was due to discrimination against minorities in obtaining a housing loan, another 90 to 113 billion dollars was under budget due to unequal access to higher education.

To address the problem, bank analysts recommend introducing additional tax breaks, raising the minimum wage, and taking a number of other measures. The bank has promised to allocate one billion dollars for the fight against racism.

Recall that earlier in the U.S. thousands of people protested against racism. The number of people on the central boulevard of the American capital is not indicated, but they filled the entire area around the rectangular pond in front of the Lincoln Memorial.

Trump also banned officials from attending anti-racism training. The U.S. president ordered his administration to ensure that funding for these training sessions was stopped.

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