Under Obama, American Households Hit 43-Year Low In Net Worth; Middle Class Hit Hardest

December 1, 2012

obama worst president everThe 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… 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.”

“This downbeat take on their economic situation comes at the end of a decade in which, for the first time since the end of World War II, mean family incomes declined for Americans in all income tiers,” the Pew Report stated.

From:  http://washington.cbslocal.com/2012/11/30/study-american-households-hit-43-year-low-in-net-worth/