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<blockquote data-quote="moreluck" data-source="post: 1061769" data-attributes="member: 1246">Re: ObamanomicsHope and change.<a href="http://washington.cbslocal.com/2012/11/30/study-american-households-hit-43-year-low-in-net-worth/" target="_blank">WASHINGTON (CBS DC)</a> – 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 in assets (using constant 1995 dollars) rose from 29.7 percent to 37.1 percent. The “less than $10,000″ figure includes the numerous households that have no assets at all, or “negative assets,” which is otherwise known as “debt.”
Over that same period of time, the wealthiest 1 percent of American households increased their average wealth by 71 percent.
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[QUOTE="moreluck, post: 1061769, member: 1246"] [b]Re: Obamanomics[/b] Hope and change. [INDENT][URL="http://washington.cbslocal.com/2012/11/30/study-american-households-hit-43-year-low-in-net-worth/"]WASHINGTON (CBS DC)[/URL] – 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 in assets (using constant 1995 dollars) rose from 29.7 percent to 37.1 percent. The “less than $10,000″ figure includes the numerous households that have no assets at all, or “negative assets,” which is otherwise known as “debt.” Over that same period of time, the wealthiest 1 percent of American households increased their average wealth by 71 percent. [/INDENT] [/QUOTE]

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