Monday, June 11, 2012

Under Obama, Americans wealth dropped 40 percent

The blame can stem from Democrats screwing around with the housing market (Jimmy Carter, Bill Clinton, Barney Frank, and Chris Dodd). Also, the blame can be place on Obama, whose policies didn't do anything for the American public.

(Washington Post) The net worth of the American family has fallen to its lowest level in two decades, according to government data released Monday, driven by a more than 40 percent drop in their stakes in their homes.

The Federal Reserve’s detailed survey of consumer finances showed families’ median wealth plunged from $126,400 in 2007 to $77,300 in 2010 — a 39 percent decline. That put them on par with median wealth in 1992.