Another Obama record. Household wealth plunges 40%!

Discussion in 'Politics' 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.

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


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


    Reality - it sure can be a bitch.