Former Obama national security adviser Susan Rice stated that anti-black racism has cost the US $16 trillion since 2000. She made the comments during a speech at Al Sharpton’s racial justice advocacy group National Action Network, where she also claimed that closing racial gaps could add another $5 trillion to the GDP over the next five years. The claims made by Rice were attributed to a report by Citibank called “Closing the Racial Inequality Gaps; The Economic Cost of Black Inequality in the US”. The report states that closing the black wage gap could have added $2.7 trillion in income, while providing fair and equitable lending to black entrepreneurs might have resulted in the creation of $13 trillion in business revenue and potentially created 6.1 million jobs annually. Citibank also recommended that the government provide guaranteed wages, income, and jobs to close the racial gaps. Rice called for the audience to stand in defense of facts, truth, and history and warned of bans on innocuous children’s books and the erasure of black history from classrooms and textbooks.
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