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
The Fed’s data underscore the depth of the wounds of the Great Recession
and how far many families remain from healing. The median value of
Americans’ debt did not change between 2007 and 2010. Meanwhile, the
housing market crash inflicted particularly severe damage, with the Fed
showing that the median value of Americans’ equity in their homes
plunged 42.3 percent between 2007 and 2010.
I don't know about anyone of us except me, but this IS my attack from now until November. I'm not arguing war, taxes, internet, none of it! I'm pounding THEIR OWN wallets!
I'm asking them plain and simple, "..are you or anybody you know better off? Are you even level from 3 years ago? Does everyone you know have a job? Is it a good job? Or are they delivering pizzas?"
They have two choices, lie or admit they're as screwed as we all are in here.