A new economic report from the Federal Reserve doesn't offer much hope. On the front page of The Washington Post, Ylan Q. Mui underlined "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."
Furthermore, "the data represent[s] one of the most detailed looks at how the economic downturn altered the landscape of family finance. Over a span of three years, Americans watched progress that took almost a generation to accumulate evaporate. The promise of retirement built on the inevitable rise of the stock market proved illusory for most. Homeownership, once heralded as a pathway to wealth, became an albatross." What's more interesting is that Mui's article doesn't mention Obama once -- in a front page piece during an election year -- right after he told reporters the private sector is "doing fine."
In seven days, the Washington Post: