The Patriot Post® · Study: Household Worth on Decline

According to new numbers, the average household worth in the United States has declined. Today, an average household is worth a third less than the average household in 2003. The New York Times reports, “The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation. Those are the figures for a household at the median point in the wealth distribution — the level at which there are an equal number of households whose worth is higher and lower. But during the same period, the net worth of wealthy households increased substantially.” NYT didn’t offer an explanation why all Americans can’t afford to have a chicken in every pot, a model-T Ford and a garage to put said car, but we suspect the battery of laws strangling the economy. Under crony capitalism, there are two groups of people: those who play the system and those who can’t. More…