Since Obama's been president: For most families, wealth has vanished

[Yurt]

A new study published by the Russell Sage foundation helps explain why many families feel like they’re falling behind: They actually are. The study, which measures the average wealth of U.S. households by income level, reveals a startling decline in wealth nationwide. The median household in 2013 had a net worth of just $56,335 -- 43% lower than the median wealth level right before the recession began in 2007, and 36% lower than a decade ago. “There are very few signs of significant recovery from the losses in wealth suffered by American families during the Great Recession,” the study concludes.

http://finance.yahoo.com/blogs/daily-ticker/for-most-families--wealth-has-vanished-172130204.html

 

[reconmark]

So that I don't label you a complete idiot; are you suggesting that the decline of wealth of the middle and lower class started with the election of President Obama??

 

[boedicca]

Why is this a problem? After all, as Obama would say: They Didn't Earn That Wealth.

 

[B. Kidd]

The weather (sic) has been a real bitch this past winter..........and then the fairy godmother said........

 

[reconmark]

The top 5% of households, for instance, have an average net worth of about $1.4 million — but that’s still about 16% lower than in 2007. The top 10% have an average net worth of about $763,000, down about 18%. Yet that’s far better than the median household, which has lost about 43% of its net worth since 2007. “Wealth inequality increased significantly from 2003 through 2013,” the study found.

Ahh, this article really has nothing to do with Pres. Obama, you just has nothing handy to bitch about today....

 

[Lakhota]

Those families got screwed by Bush. Obama is trying to clean up the mess - with no help from the right.

 

[nodoginnafight]

yeah cause all those 401Ks that have recovered are all owned by lab rats ??????????????

 

[DiamondDave]

So that I don't label you a complete idiot; are you suggesting that the decline of wealth of the middle and lower class started with the election of President Obama??

Don't think that was stated.. but WORSENING since that election, is something that can be said

 

[reconmark]

So that I don't label you a complete idiot; are you suggesting that the decline of wealth of the middle and lower class started with the election of President Obama??

Don't think that was stated.. but WORSENING since that election, is something that can be said

Title of the thread:
Since Obama's been president: For most families, wealth has vanished


The insinuation is that since the election of Pres. Obama, the wealth of most families have vanished due to the President.

 

[Yurt]

So that I don't label you a complete idiot; are you suggesting that the decline of wealth of the middle and lower class started with the election of President Obama??

are you stating it has not gone down since he took office?

 

[Yurt]

So that I don't label you a complete idiot; are you suggesting that the decline of wealth of the middle and lower class started with the election of President Obama??

Don't think that was stated.. but WORSENING since that election, is something that can be said

exactly

 

[nodoginnafight]

What was the stock market at when Obama took office?

What is it now?

Does your sketchy math NOT include the middle class's 401Ks ???????


You see - someone can always manipulate figures - leave out the categories that hurt their case - to try to grind an ax.

 

[koshergrl]

"From 2009 through 2012, the Obama cabal, and their allegiance to statist policies, has been in charge for four years. The global financial crisis took place in the previous year, 2008 [remember the Democrat majority Congress was elected in 2006], and based on the historical pattern of American economic recovery since the depression years, the United States should have been experiencing broad and significant economic and job growth by year three at the latest.”
Instead what America got by year five was fewer jobs than before. Even though the employment age population has increased by nearly 12 million since January, 2008, there are now 3 million fewer Americans working, with employment declining from 146.3 million in January, 2008 to 143.3 million in December, 2012. If America enjoyed the same labor force participation rate as in 2008, the unemployment rate in December, 2012 would have been 11.4%, compared to 4.9% in December, 2007, under President George Bush and his “failed” economic policies of the past. We won’t see 4.9% unemployment in America again until the statest takeover of America is purged.
As I have previously recounted here, before this latest spooky downturn, since the Great Depression recessions in America have lasted an average of 10 months, with the longest previously at 16 months. The latest recession began in December, 2007. Yet here we are 62 months after the recession began, and there is hardly any recovery at all."

The Worst Five Years Since the Great Depression - Forbes

 

[KissMy]

It's hard to increase wealth when economic crash destroys 10% of the jobs & 11% of the polulation retires. 34 million Baby Boomers retiring during Obama's presidency.

However rate of increase in employment of working age population has exploded. Republicans, neither Bush Ever had a single period that could match the increasing employment rate of working age population that Clinton with Democrat congress & Obama have.

 

[RDD_1210]

A new study published by the Russell Sage foundation helps explain why many families feel like they’re falling behind: They actually are. The study, which measures the average wealth of U.S. households by income level, reveals a startling decline in wealth nationwide. The median household in 2013 had a net worth of just $56,335 -- 43% lower than the median wealth level right before the recession began in 2007, and 36% lower than a decade ago. “There are very few signs of significant recovery from the losses in wealth suffered by American families during the Great Recession,” the study concludes.

http://finance.yahoo.com/blogs/daily-ticker/for-most-families--wealth-has-vanished-172130204.html

Holy shit, another thread from someone who is too lazy to read his own article. The article clearly states why there has been a decrease in wealth and it doesn't blame Obama.

So why did you post the article that clearly doesn't agree with your thread title? Because you're too lazy and too dumb to read your own "proof".

Conservative America on full display.

 

[ClosedCaption]

The top 5% of households, for instance, have an average net worth of about $1.4 million — but that’s still about 16% lower than in 2007. The top 10% have an average net worth of about $763,000, down about 18%. Yet that’s far better than the median household, which has lost about 43% of its net worth since 2007. “Wealth inequality increased significantly from 2003 through 2013,” the study found.

Ahh, this article really has nothing to do with Pres. Obama, you just has nothing handy to bitch about today....

But remember Republicans dont believe in "wealth inequality"