(story at directorblue.blogspot.com)
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.(via fireandreamitchell.com)
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."
When Obama was first elected in 2008, all the media lapdogs said it was historic. They were right. Obama has achieved some truly historic feats in his first term, with the next four years yet to come. In just under four years, Obama has now borrowed more money than all previous U.S. presidents combined! Not even George Washington through George W. Bush could equal the borrowing power of one named Barack Hussein Obama.(from fireandreamitchell.com)
The federal government has now borrowed more money during Barack Obama’s time as president than it did in the period lasting from the time President George Washington took the oath office until July 2, 2001, more than five months into the first term of President George W. Bush.By the time Obama is done with this country in 2016, borrowing will probably top $10 trillion, and it will be a new standard for Marxist Democrats.