Americans are 40% poorer than 5 years ago.
Thanks Obama!!
http://www.nytimes.com/2014/07/27/business/the-typical-household-now-worth-a-third-less.html?_r=0Notice how they start off talking about income inequality...
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 the Russell 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.
