Obama;s latest report card.

Remember, this is 'government data' and not any partisan group attempting to skew the numbers. Barack Obama has had three and a half years to impact the economy and turn around the slide into oblivion and all that i have seen done is that he has greased the rails. No attempts made to stem the tide, only hand outs and buy outs and more of the same socialist 'hocus pokus' and now we are in dire straights. Will the American people finally realize what is happening and kick this interloper to the curb come November? We can only hope and wait.

 

Americans’ wealth dropped 40 percent

The net worth of the American family has fallen to its lowest level in two decades, according to government data released Monday, driven by a more than 40 percent drop in their stakes in their homes.

The Federal Reserve’s detailed survey of consumer finances showed families’ median wealth plunged from $126,400 in 2007 to $77,300 in 2010 — a 39 percent decline. That put them on par with median wealth in 1992.
 
The Fed’s data underscore the depth of the wounds of the Great Recession and how far many families remain from healing. The median value of Americans’ debt did not change between 2007 and 2010. Meanwhile, the housing market crash inflicted particularly severe damage, with the Fed showing that the median value of Americans’ equity in their homes plunged 42.3 percent between 2007 and 2010.
The survey is conducted every three years, and this report offers one of the most exhaustive looks to date at the greatest economic upheaval in a generation. Although there have been some signs that the recovery has picked up steam — housing prices have begun to stabilize and unemployment has fallen — Fed economists said those improvements largely do not change the survey results.
“Recovery from the so-called Great Recession has also been particularly slow,” the Fed said in its report.