Rice Sparks Controversy Over Claiming $16 Trillion Shortfall in US Economy Caused By Racism

During her speech at the National Action Network convention in New York City, White House Domestic Policy Advisor Susan Rice asserted that racism had a profound effect on the U.S. economy.

She stated that discrimination against African-Americans resulted in a GDP shortfall of $16 trillion over the past two decades.

According to a Citibank report, if racial disparities were resolved, the U.S. GDP would increase by $5 trillion over the next five years. Her speech was criticized and ridiculed by social media users.

Called Out on Twitter

Numerous Twitter users criticized Rice’s claims, with some describing them as “nuts” and “unbelievable.”

Former U.S. ambassador Richard Grenell referred to Rice’s address as a “bomb,” while National Review columnist Pradheep Shanker quipped that progressivism had shrunk the economy by $100 trillion.

The editor of the Daily Caller, Vince Coglianese, tweeted that Rice cited her colleagues at Citibank as calling the American economy racist, while writer Doug Powers advised she cease taking part in it.

Rice cited a Citibank report stating that $16 trillion could have been included in the U.S. economy if four significant racial disparities for African-Americans, including wages, schooling, living conditions, and investment, had been closed 20 years ago.

If the gaps shut down today, the U.S. GDP could increase by $5 trillion over the next five years. During the conference, Rice criticized Republican teaching and critical race theory policies.

Call For Defense of Truth

Rice exhorted individuals to unite to defend facts, reality, and history.

She criticized the recent restrictions on children’s books featuring black or brown characters, as well as the suppression of black history in schools and textbooks. Rice stressed that African American history is American history.

The Domestic Policy Advisor of the White House spoke about the need to construct a society where everyone is valued and can live in dignity and safety and with hope.

She added that when racial disparities are eliminated, all communities benefit. Rice’s speech received criticism and support from social media users, who are divided on her claims.

This article appeared in NewsHouse and has been published here with permission.