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Study: American Households
Hit 43-Year Low In Net Worth

CBS (DC), by Staff

Original Article

Posted By:Pluperfect, 12/1/2012 4:41:50 AM

WASHINGTON – The median net worth of American households has dropped to a 43-year low as the lower and middle classes appear poorer and less stable than they have been since 1969. According to a recent study by New York University economics professor Edward N. Wolff, median net worth is at the decades-low figure of $57,000 (in 2010 dollars). And as the numbers in his study reflect, the situation only appears worse when all the statistics are taken as a whole. According to Wolff, between 1983 and 2010, the percentage of households with less than $10,000

      


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Reply 1 - Posted by: Trigger2, 12/1/2012 4:48:10 AM     (No. 9042488)

I smell a cash increase to welfare.

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Reply 2 - Posted by: HicksvilleKid59, 12/1/2012 5:04:57 AM     (No. 9042491)

Just think... this is with Kenya Boy ´working´ for the middle class.

Just like Mitt said, "Trickle up poverty."



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Reply 3 - Posted by: Nimby, 12/1/2012 5:12:14 AM     (No. 9042493)

And these maroons voted for remaining in poverty

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Reply 4 - Posted by: steveW, 12/1/2012 5:55:44 AM     (No. 9042505)

The cost of Hope and Change, and it can only get worse. TANSTAAFL.

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Reply 5 - Posted by: binthere_dunthat, 12/1/2012 6:20:08 AM     (No. 9042515)

Besides political ignorance, it appears that Dumbocrats have one additional handicap. Apparently math classes were very unhappy experiences for them.

When you´re too ignorant to realize that your net worth is circling the drain, you just solve that problem by voting for more of the same ineptitude. Yah that makes a lot of sense.

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Reply 6 - Posted by: GringoinQuito, 12/1/2012 7:13:03 AM     (No. 9042547)

They voted for the mulatto. Let them eat cake!

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Reply 7 - Posted by: King of all trolls, 12/1/2012 8:08:13 AM     (No. 9042599)

What depression? Our Great And Compassionate Dear Leader saved us poor rubes from it! Just look at all those Greenjobs he has created by magnificent decree! Many statutes will be made in his honor!

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Reply 8 - Posted by: Spidey, 12/1/2012 8:10:55 AM     (No. 9042604)

I´m taking a wild stab here but my guess is the average peoson on welfare wuld have to make $15-16 an hour to make the same money they´re getting in government benefits when you include free medical care,workers have to pay for themselves. There´s no incentive for these people to work when you can live the same lifestyle for free.

Looking at a poverty person´s cash income as a barometer of their misery is a huge lie and distraction and meant to keep pulling the white guilt chain.


The government has the resources to calculate the average number of calories in the average food stamp cart and see it´s way over what a healthy family should eat. But instead of restricting those type food purchases,they´re going to come up with a fat and sugar tax to punish everybody,obese or not.Everything the liberals do lays the groundwork for more revenue,it´s just a matter of conditioning the public for it.Bloomberg´s soda tax is designed to condition the public for food taxes.

If there is a fat and sugar tax,the food stamp crowd will just get an increase every month as an offset.

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Reply 9 - Posted by: voxpopuli, 12/1/2012 8:19:08 AM     (No. 9042615)

maybe MN Gov Mark Dayton can tell us how to improve this.. as i mentioned in above post, he and his three brothers share a trust fund of FIVE BILLION dollars..
being a trust fund baby, he´s never had to worry about things like work or savings..

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Reply 10 - Posted by: TOOTALL, 12/1/2012 9:09:22 AM     (No. 9042698)

´Fundamental change´ was promised and that is what will see much more of in the next few years. Let´s go over the cliff now as opposed to later. Hemingway was asked how his bankruptcy occurred,and he answered, "gradually....then suddenly." I say let´s get on with it.

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Reply 11 - Posted by: Udanja99, 12/1/2012 9:17:02 AM     (No. 9042719)

Forward!

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