CNN wrote:NEW YORK (CNNMoney) -- The average American family's net worth dropped almost 40% between 2007 and 2010, according to a triennial study released Monday by the Federal Reserve.
The stunning drop in median net worth -- from $126,400 in 2007 to $77,300 in 2010 -- indicates that the recession wiped away 18 years of savings and investment by families.
http://money.cnn.com/2012/06/11/news/ec ... ?iid=HP_LN
Might as well take advantage of a good report by CNN when you see one and put it up for discussion. Statistics like this really put to shame all the political arguments about how the economy is improving. Voters outside the public sector or hybrid sectors don't need a statistic to know what's happened to their net worth. They're losing everything they have while working in industries that used to bring prosperity. For a lot of working class voters, wages haven't just stayed the same over the last 10 years, but gone down. Adjusting for inflation median income is less than it was during Clinton's second term. When they've lost income, savings (remember those?), net worth and dollar value, fancy arguments about a growing economy don't pass the gut test. This is going to be a really big election.