My Budget 360

One unique signature of this economic recovery is how narrow it is.  When we look at actual wealth, the net worth figures of Americans, we see some dismal numbers.  In fact, what we find really isn’t a recovery at all if we look at 93 percent of the country.  Then again, with most of Congress being millionaires they are so far removed from the real lives of the public that reality has become encapsulated in a very tiny bubble.  One piece of data that recently came out highlights this uneven recovery.  From 2009 to 2011, the heart of the so-called recovery, the net worth of Americans went up by $5 trillion.  Sounds great right?  Well, when the data is actually carefully examined we find out that the net worth of the bottom 93 percent of Americans actually fell by $0.6 trillion and the top 7 percent saw all the gains of $5.6 trillion.  In other words, for most Americans, this isn’t a recovery at all.

The uneven recovery

continue article at My Budget 360:

http://www.mybudget360.com/american-average-net-worth-median-net-worth-2013/