A new Pew Report details what we already know: the Latino community has been hardest hit by this recession.  Our writers weigh in on what this means for the community and for the 2012 elections.

Daniel offered this primer on our economic recovery and the disconnect between Washington and everyday Americans:

Since the recession began, there has not been much, if any, good economic news for either Latinos or blacks. All of the economic data discussed here are essentially quality of life indicators – and they are all just as depressing as they are alarming. I don’t even have space to discuss the huge disparity in poverty rates between Latinos (25.3%) and blacks (25.8%), as compared to whites (9.4%) and Asians (12.5%). But somehow, in light of the mountains of available data, neither President Obama nor the Congress (or either political party) has devised an agenda or a plan to create jobs. Unfortunately, the focus in Washington – in terms of public officials and the mainstream, establishment media – is fixed on cutting domestic discretionary spending and shredding the social safety net that has kept millions out of poverty and allowed Americans to access health care services when they otherwise couldn’t have afforded it. Somehow the politicians have managed to ignore the public’s support for these benefits and opposition to these proposals.

Our leaders should be finding ways to grow the economy and create employment opportunities with smart, targeted investments – especially for infrastructure – and projects that will particularly help the most vulnerable communities, which have been the most severely impacted as a result of the recession. This latest report from the Pew Research Center is just another reminder of how disconnected our leaders and elite opinion are from the needs and desires of the American public – and especially those of Latinos and blacks – who continue to suffer the effects of the worst economic calamity since the Great Depression.

You can check out his extended analysis here.

Adriana did not find the data surprising, writing, “We tend to index lower on all socioeconomic indicators,” and offered this caveat about home equity:

While a home may be an asset for many, it can also be a liability. We have to stop buying into this notion that owning a home is part of the American dream, especially when some people haven’t completely grasped the other costs associated with home ownership such as property taxes, a mortgage rate that may be unfixed, and the associated maintenance costs. In many ways, aside from disparities in education and immigration status, these numbers point to the financial illiteracy of many in our community. I suggest that people read this short piece about home ownership, which expounds upon the concept of asset vs. liability.

And Victoria, ever the political scientist, examined the details of the data:

The Pew Report provides a thorough yet very aggregate assessment of the state of Latino wealth.   In further discussing implications of this report for Latino economic recuperation and political action the following data disaggregation is necessary:

Traditional v. new Latino destinations — Traditional destinations and settlements for Latinos are in the states that suffered the brunt of the housing bubble:  California, Arizona, Nevada, and Florida.  While these states have high Latino population densities they are not those experiencing the fastest rates of growth.  The highest growth rates are within the southern states.  Are the rates of wealth acquisition/loss by areas of population growth constant?
Generation – There are Latinos who just recently arrived in the United States and who have been here for 10 generations.  How is the acquisition/loss of wealth taking place across Latino generations?
Age – Latinos are the youngest demographic in this country.  How are Latinos who are just entering the work force faring in the economy in comparison to older Latinos?
Education –Latinos are the least educated in this country.  However is the  acquisition/loss of wealth equally distributed across Latino education levels?  Are those with the least education bearing the brunt of the downturn?

So, what do these numbers mean for 2012?  Bettina thinks this is bad news for Democrats:

The news should make the Obama campaign even more nervous about their hopes of victory in 2012. Hispanic voters are already dissatisfied with the current administration. More bad news will only make the relationship worse.

A recent Gallup Poll found Latino support for President Obama has dipped to 52%, a drop of 30 points since December 2009. Over a third of his 2008 supporters said they will not vote for Obama again.

Adriana echoed this sentiment, writing:

In terms of the 2012 election, these new numbers about declining wealth in the Hispanic community will make it harder for people to enthusiastically support President Obama. One question that every candidate asks is if you are better off today than you were four years ago. If Latinos are worse off, it’s going to be more challenging for the President to maintain his level of support in the Latino community.

What do you think?  What do these numbers mean for the 2012 elections?