Are We Better or Worse Off Under President Obama?

America rejoiced at the election of President Barack Obama. African Americans took an unprecedented level of interest in American politics, and the world celebrated the possibility of peace. The end of the Bush administration even inspired the Nobel Prize committee to give its coveted award to President Obama, based on the mere hope that he might make the world a better place.

The world has changed a bit since then. The happy political bash of the election became the tired and draining after party, and the excitement has worn off. America is no longer drunk with the thrill of having an intelligent president. So, this takes us to one final question (inspired by our friend over at the Average Bro blog): Is life better or worse under President Obama?

I focus this article on African Americans, since that is the target audience of this Web site. But every American is asking that question right now, especially after living through one of the most tumultuous economic downturns in the past 50 years. The people in the Gulf region are probably not better off, as they are facing what many are calling the worst oil spill in U.S. history. This spill has destroyed the livelihoods of thousands who depend on the sea and tourism to make a living.

African Americans have a few yardsticks they can use to measure their quality of life during the Obama presidency. You might start with the unemployment rate. Black unemployment hovers around 16.5 percent for African Americans, compared with 9 percent for whites. This differential hasn't changed since Obama became president, so perhaps it can't be linked to his presidency. We can at least say that he hasn't done much about it one way or the other, so those who expected Obama to change their lives significantly might end up a bit disappointed.

Another area where the well-being of African Americans can be measured is wealth. A recent report by the Institute for Assets and Social Policy showed that the wealth gap between whites and blacks actually grew during the past two decades. In fact, while the median wealth for whites, excluding home equity, grew from $22,000 to $100,000, the median wealth for blacks only grew from $2,000 to $5,000. Again, this is not Obama's fault and it might be unrealistic to expect him to shrink the gap. But he can also be censured by the black community for not mentioning the gap as a priority in his administration.

Obama can be credited for creating opportunities for African Americans at the highest levels, especially those who attended Harvard and Yale. He has made some key appointments of African Americans in his administration, including Senior Adviser Valerie Jarrett and Attorney General Eric Holder. Also, psychologists at San Diego State University cited an "Obama Effect," in which the test scores of black children improved as a result of his presidency. Therefore, it appears that the president's success may have had a good psychological impact on the African American community.

Whether you think the Obama presidency has been good for black America probably depends on what you think about Obama himself. Most African Americans love him. His approval ratings are above 90 percent. He will probably go down in history as one of the most widely respected black men our nation has ever seen, and that fact won't be easily changed.

But we ask you, the readers of Black Voices, do you think you are better off since the election of President Obama? Economically speaking, or perhaps socially or spiritually? Please leave your thoughts below. What would you hope the president can help us as a community achieve?

Lawrence Watkins is the founder of Great Black Speakers. He is also the owner of speakers' bureaus dedicated to Hispanic speakers and Christian motivational speakers. His book 'Frame Your Future: 8 Principles to Effectively Focus on the Future and Not Dwell in the Past' will be released in August. If you would like Lawrence's articles delivered directly to your e-mail, please click here.