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That would have to be the only believable excuse.

Today, via Twitter:

Rep. Vicky Hartzler ‏@RepHartzler

Sad state or country under Obamanomics–the average American has lost 40% of their net worth. It’s time to embrace the House’s jobs plan. 3:56 PM – 12 Jun 12

Why, that’s terrible. Let’s look at the details:

Americans saw wealth plummet 40 percent from 2007 to 2010, Federal Reserve says

By Ylan Q. Mui, Published: June 11

The recent 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….

Yep, read that headline again. Remind me, who was president from January 2001 to January 2009?

It’s not a good thing when you think your constituents are too stupid to notice.


…The recession caused the greatest upheaval among the middle class. Only roughly half of middle­-class Americans remained on the same economic rung during the downturn, the Fed found. Their median net worth – the value of assets such as homes, automobiles and stocks minus any debt – suffered the biggest drops. By contrast, the wealthiest families’ median net worth rose slightly….

[rmphasis added]

Evidently there’s been a class war and now we know who’s been winning.