Thursday, June 14, 2012

Political Cartoon of the Day: New American Networth

Federal Reserve report the median net worth of families sunk by 39% in just 3 years.

According to a new Federal Reserve report the median net worth of families sunk by 39% in just 3 years, from $126,400 in 2007 to $77,300 in 2010. That throws middle class Americans roughly on par with 1992 levels of wealth (inflation-adjusted). The report also shows that, over the 2007–10 period, the median value of real (inflation-adjusted) family income before taxes fell 7.7 percent.

Source:

Changes in U.S. Family Finances from 2007 to 2010: Evidence from the Survey of ConsumerFinances

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