American Households net worth two-thirds of what it was during Bush


How about a feel good moment as we trundle off to work on a Monday morning? Too bad there is no one out there who can articulate the info. Just saying. Meanwhile revenues to the government via taxes hit an all time record. I would say the Obamabots should be wearing a smile on their faces. Everything right on schedule with this redistribution thing. Class warfare should commence at anytime now.

The median household net worth under Obama declined one-third what it was during the Bush years.

Under Barack Obama American households are worth two-thirds of what they were worth under George W. Bush.
The New York Times reported:

Economic inequality in the United States has been receiving a lot of attention. But it’s not merely an issue of the rich getting richer. The typical American household has been getting poorer, too.

The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline,according to a study financed by theRussell Sage Foundation. Those are the figures for a household at the median point in the wealth distribution — the level at which there are an equal number of households whose worth is higher and lower. But during the same period, the net worth of wealthy households increased substantially.

The Russell Sage study also examined net worth at the 95th percentile. (For households at that level, 94 percent of the population had less wealth and 4 percent had more.) It found that for this well-do-do slice of the population, household net worthincreased 14 percent over the same 10 years. Other research, by economists like Edward Wolff at New York University, has shown even greater gains in wealth for the richest 1 percent of households.

14 Responses to “American Households net worth two-thirds of what it was during Bush”

  1. Petermc3 Says:

    Benjamin Franklin frowned on the idea of a president. And now, finally we have a president who has shown us once and for all that the three branches of government is now not a workable concept. A clever immoral and unscrupulous community organizer has worked the system with such incredible ease our this system of checks and balances will no longer function as intended. The triangulation of a stupid people, a corrupt media and big money has rendered our system no longer workable. And we have two unqualified america hating women waiting in the wings to administer the final death blows to the nation and an electorate eager to crown either one of them.

    Like

    • bunkerville Says:

      So well said. Though this “Refugee” thing may have tipped the scales for the fall election and may give us a bit of a breather.

      Like

  2. Jersey McJones Says:

    Wow, Bunker, I had no idea you were so young! Only six years old and blogging politics! Amazing!

    JMJ

    Like

    • Steve Dennis Says:

      Not really sure how a personal attack refutes what Bunkerville was writing about, but I guess you can’t refute it so this is what you are left with.

      Like

  3. Paladin Says:

    You cannot repair a capitalist system with Marx or shades of him. Like oil and water, they just don’t mix. Who’s Obama’s business Czar? A Marxist. Who was his environment Czar? A Marxist. Who used to run White House Communications? A Maoist. The rest are 50 shades of red in his administration. Is it any wonder that the middle class is suffering? Is it any wonder that Obama is hostile to business? He even admits that he sought out Marxists in his college years and both his mother and father were Marxists. So how is he going to make our economy strong again, particularly in the face of socialized medicine?

    Where once awakening to what the left was doing would have saved us, now we not only have to be awake, we have to have to be resolved to reverse it no matter the cost, and that is something vastly different. I recall the Greeks awakening to their problem and attempting to initiate austere measures, they have been stopped by their own people time and again with riots and destruction. I believe that the same thing will happen here.

    Like any addict, those on the government dole will fight to maintain their dependency not because it is good for them, but because they fear to be without it. That fear will evoke much social turbulence.

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    • bunkerville Says:

      And of course. we have our faux princess Liz Warren ready to grab the torch to finish us. Unless we have a revolution by the low information folks with an appreciation of the end game. “Waters World” of Fox news doesn’t inspire optimism. Hard to see it. I see no Ronald Reagan on the horizon. Hope springs eternal.

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  4. Petermc3 Says:

    Merely further confirmation that the pieces of the overall economic plan for the demise of the middle class fall into place. And who says the D’s and R’s can’t work together?

    Like

    • bunkerville Says:

      Arm and arm they walk toward the end of Capitalism.

      Like

  5. Conservatives on Fire Says:

    New York Times? I’m immpressed. Could this indicate an awkening is coming? We can only hope.

    Like

    • bunkerville Says:

      If they are any students of Hisotry all they have to know that when the time comes, they will be the first to the Gulag.

      Like

    • Steve Dennis Says:

      Most likely they are trying to distance themselves from Obama so they can support Hillary in 2016 Jim.

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      • bunkerville Says:

        Or even Liz Warren as she rants about the rich who didn’t build anything and are just getting richer.

        Like

      • Steve Dennis Says:

        Warren is gaining steam and I think she is going to run. You would think the left would have learned by now what happens when you elect a first term senator with no experience but apparently they have not.

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      • bunkerville Says:

        Maybe they did! Seemed to work last time around.🙂

        Like


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