New Census Report - Median Net Worth - Went Down Overall

[Median Democrat]

Though a few income quintiles did go up slightly based on 2002 dollars, median net worth for the most part stayed the same or declined during Bush's first two years in office. Of course, this does not include the data related to the mortgage crisis over the past 2 years, which is resulting in historically low home equity.

Indeed, it could be argued that the GOP's dismal economic performance is even worse when one factors in that a lot of the wealth is based on home equity, which was artificially inflated during most of the Bush years. It is too bad there is such a lag in preparing these reports, because it would be interesting to see how the non-equity portion of most American wealth compares between 2000 and now.

For example, when you exclude home equity, median household net worth went down from $14,000 to $10,000 during Bush's first 2 years. Yup, the triumph of Bush Economics. And McCain promises McSame.

http://www.census.gov/prod/2008pubs/p70-115.pdf

[SpiralHawk]

1. The putrid fruit of Republiconomics

[Median Democrat]

2. The Middle Class Suffered Close to A $4,000 Drop In Net Worth

Excluding home equity from $13,227 to $9,506 based on 2002 dollars. Thus, despite the GOP's call for an ownership society, the fact of the matter is that Americans owned less during Bush's first two years despite the implementation of Bush's tax cuts, and a friendly GOP controlled congress.

[Leopolds Ghost]

3. I thought this was a Global Warming post entitled "Median Wet North - Down Overall"

What with the torrential rains we've been getting that destroyed the
150 year old trees in my backyard.

[magellan]

4. If you're not feeling trickled on

...you will soon.

[Earth_First]

5. I'm collecting it by the bucketfull! n/t