$16T: Amount Racial Inequality Has Cost the U.S. Since 2000, Says Citigroup

Sep 30, 2020 / By Elaine Belsito
Horsesmouth Assistant Editor
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Chart Talk: In a new report, Citigroup analyzes the cost to the U.S. economy of racial disparties in business lending, education access, housing lending and more.
“We are caught in an inescapable network of mutuality, tied in a single garment of destiny. Whatever affects one directly, affects all indirectly.”

—Martin Luther King, Jr.

This month Citigroup released a report looking at the cost to the American economy of inequitable treatment based on race. The analysis shows that if four key racial gaps for Blacks—wages, education, housing, and investment—were closed 20 years ago, $16 trillion could have been added to the U.S. economy. And if we redress those gaps today, $5 trillion can be added to U.S. GDP in the upcoming five years.

The graphic below sums up what we could have gained had we closed these gaps 20 years ago. To explore the details and see the tables and charts behind these figures, as well as much more on the economics of racial inequities in the U.S., download the report here. And you can read more about the Citigroup report here.

What the United States Could Have Gained by Closing Racial Gaps 20 Years Ago

Source: Citigroup

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