Welcome to Obamaland and “Hope & Change” … American Households Hit 43 Year Low In Net Worth

Welcome to Obamaland and Obama’s vision of “hope and change” as American households have hit a 43 year low in net worth. All this America and you still voted Obama back into office even though he hasn’t a clue as to how to fix the economy or job growth. Sadly, an ignorant electorate still seems to blame Bush for the economy. At what point is America going to wake up and realize that it is an Obama owned economy? Just curious, who is Obama going to blame during his second term in office for the failed inherited economy when he inherited it from himself?

Obama laughed himself silly when he realized that a misinformed electorate actually reelected him without a clue to help fix the economy

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.”

America, class warfare is not an economic policy and campaigning is not leadership. Grow up!