Another Obama record. Household wealth plunges 40%!

Discussion in 'Politics & Religion' started by Grandluxe, Jun 11, 2012.

  1. By Ylan Q. Mui, Updated: Monday, June 11, 5:04 PM

    The Great Recession wiped out nearly two decades of Americans’ wealth, according to government data released Monday, with middle-class families bearing the brunt of the decline.

    The Federal Reserve said the median net worth of families plunged by 39 percent in just three years, from $126,400 in 2007 to $77,300 in 2010. That puts Americans roughly on par with where they were in 1992.

    http://www.washingtonpost.com/busin...d-40-percent/2012/06/11/gJQAlIsCVV_story.html

    So when do we reach Uganda's standard of living? Thanks Obama.
     
  2. Ricter

    Ricter

    Yeah, Obama, thanks for causing the housing bubble.
     
  3. "As a candidate in 2008, Obama blamed the reversals largely on the policies of Bush and other Republicans. He cited census figures showing that median income for working-age households -- those headed by someone younger than 65 -- had dropped more than $2,000 after inflation during the first seven years of Bush’s time in office.

    Yet real median household income in March was down $4,300 since Obama took office in January 2009 and down $2,900 since the June 2009 start of the economic recovery, according to an analysis of census data by Sentier Research, an economic- consulting firm in Annapolis, Maryland."

    Ouch.

    Maybe Vogue, Steven Spielberg or Sarah Jessica Parker can help?
     
  4. Lucrum

    Lucrum


    Reality - it sure can be a bitch.