Personal Assets Crash 22% Under Obama

Posted in the Columbus Forum

“animis opibusque parati”

Since: Oct 12

Location hidden

#1 Feb 25, 2013

Personal Assets Crash 22% Under Obama, Recession

by Paul Bedard

The struggling economy, President Obama's inability to fix unemployment and the sour housing market have cut the value of assets held by adult Americans by 22% since 2007, according to Pew Research.

In a new analysis of American household fiscal healthiness, Pew also found that those 35 and older have a higher and out-of-whack debt-to-income ratio of 1.22, the highest in three decades.

The crash in household assets and rise in debt comes as Americans are paying more in payroll taxes and at the gas pump, an unhealthy concoction that is sapping support for Obama.

A new Economist/YouGov poll provided to Secrets found Americans split on Obama, with 47% approving of his job performance, 46% not. And younger voters are especially distressed, with Obama receiving just 43% approval from those 18-29 who went overwhelmingly for him in the 2012 election. It's not better at Rasmussen Reports, which found that just 15% of adults view the economy as good to excellent and, in a related poll, that just 40% give Obama good marks for job creation.

Pew's review of personal assets -- savings, retirement accounts, cars and houses -- shows how devastating the long economic downturn in the country has hit Americans. Older Americans, age 35 and higher, have taken a 22% hit. In 2007, their assets were valued at $293,968, said Pew. By 2010, the newest figures available to Pew, assets had been paired to $230,018.

Pew noted that while the stock market has since recovered, housing is still deflated. Most older Americans have the bulk of their assets tied up in real estate and the stock market.

Younger Americans, below 35, have seen their assets drop 14%, from $38,071 in 2007 to $32,793 in 2010.
son of hey now

Columbus, OH

#2 Feb 25, 2013
obama calls it his TTH&FU program: Take That Honkey & FOff

And for you white haters who do not abort your young, then here go ahead and give birth to a child blessed with a $300,000 debt that was run up feeding sh^tskin parasites.
Big Johnson

Columbus, OH

#3 Feb 25, 2013
President Obama can not be blamed for the grossly overvalued real estate market he inherited.

He does get credited for guiding the inevitable crash to a soft landing.

“Larchmont's Leading Citizen”

Since: Dec 12

Hilliard, OH

#4 Feb 25, 2013
Big Johnson wrote:
President Obama can not be blamed for the grossly overvalued real estate market he inherited.
He does get credited for guiding the inevitable crash to a soft landing.
"Soft landing," huh?

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