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The urban league today has just released its annual state of black america report titled "one nation underemployed." it pulls back the curtain on a widening economic gulf between whites and african-americans and latinos. as of february of this year, it finds the unemployment rate for black americans is double that of white americans. joining us to put a human face on this report, james peterson, director of africana studies. heather mcgee, president of the public policy organization demos. thank you both for being here. you guys were here listening to our discussion with david kennedy on just ...

>> neil: we meant to that. they argue, and you can never refute a negative -- that everything was locking up, we failed a depression if we didn't do that. george bush didn't want to do this. they all said to a man or woman, including sheila baird, you know, you don't know what we're facing. every is locking up. credit is drying up. and the danger with what we did -- i'll talk to the -- at least the relief we provided, it set up a precedent for being a backstop. >> good intentions pour out when a crowd mentality tanks. my dear friend and great person, great congressman jack custom. he was for i...

Be devastated by this because you'd see a locking up of capital at a very, very rapid rate. and anybody who relies on a line of credit could end up in really big trouble -- farmers, working folks, anybody trying to get a mortgage. you would see a very, very quick impact. and the problem is also the instability of a situation like this, especially at a point when our economy is just beginning to get rolling, starting to really show some signs of moving in the right direction. >> sure. >> some key manufacturing hiring. this would be a terrible thing to do to it, much worse again than going over ...

To sort it out. but this game, again, will cause huge, huge problems for working americans. the debt ceiling fight is very, very different than the fiscal cliff fight. the fiscal cliff fight was something where we could anticipate a lot of problems coming if we went over it. the debt ceiling fight is very, very different. it will -- if it goes to the crisis the republicans talk about creating, initiate a broad meltdown as regards our economy. and it runs the risk of putting people out of work. >> so many comparisons being made to what happened in the '90s under newt gingrich. the world economy...

Democrats. and that has led to a happy feedback loop in the conservative media where the president says why isn't jeff sessions jailing hillary clinton? and the conservative media says yeah, why isn't jeff sessions locking up hillary clinton? and the president says everybody is wondering why jeff sessions isn't locking up hillary clinton. and these expressions of disgust and disappointment by the president toward his attorney general is being covered now as another like personality fight or another episode of palace intrigue in the administration of the president and his attorney general not g...