Now I've pointed out some truly dismal numbers when discussing the crushing policies of the Obama regime with regard to the economy but this is by far the the worst:
The Great Recession wiped out nearly two decades of Americans’ wealth, according to government data released Monday, with middle-class families bearing the brunt of the decline.
The Federal Reserve said the median net worth of families plunged by 39 percent in just three years, from $126,400 in 2007 to $77,300 in 2010. That puts Americans roughly on par with where they were in 1992.Note that the large portion of the misery is currently being suffered through by the middle class who watched their true nest egg--the equity in their house--tumble. Thanks to your favorite Democrat and his or her (or in Barney Franks' case both) unwavering support of the social engineering experiment that is Fannie Mae.
Think about this, in 1992:
-George H.W. Bush yakked all over the Japanese premiere;
-The IRA were still bombing Britain;
-The LA riots destroyed a bunch of Korean and Black businesses;
-The Ruby Ridge fiasco stoked the ire of many antigovernment types;
-Hurricane Andrew whacked Florida;
-Some chick named
-Nirvana's Nevermind was #1;
-Slick Willy was elected to the highest office in the land, which he promptly disgraced; and
-US forces landed in Somalia to assist in feeding the starving people of that African nation, who quickly repaid that favor by attacking us in the first bin-Laden attack against the US that left Delta and Ranger forces dead.
That's where we find ourselves now, living to a standard I enjoyed when I was 24 and a third class boatswains mate in the good old US Navy.
If I were Romney, I'd hit Obama over the head with this repeatedly and daily.