Don’t know if you can say the new census statistics are worse than lies and damn lies.\u00a0 They are sobering to all who believe that opportunity and a ration of equality make our country great.<\/p>\n
Data analyzed by the Pew Research Center show that the recession has wreaked havoc on the wealth of all Americans but that whites lost the least amount as a percentage of their holdings.\u00a0 The decline in median net worth between 2005-09:<\/p>\n
– Hispanic households – 66 percent (to $6,325 from $18,359)
\n– African-American households – 53 percent (to $5,677 from $12,124)
\n– White households – 16 percent (to $113,149 from $134,992)<\/p>\n
The median net worth of a white family now stands at 20 times that of a black family and 18 times that of a Hispanic family \u2014 roughly twice the gap that existed before the recession and the biggest gap since data began being collected in 1984.<\/p>\n
(Household wealth is the sum of assets, including houses, cars and banking accounts, minus debts, including mortgages, auto loans and credit cards.)<\/p>\n","protected":false},"excerpt":{"rendered":"
Don’t know if you can say the new census statistics are worse than lies and damn lies.\u00a0 They are sobering to all who believe that opportunity and a ration of equality make our country great. Data analyzed by the Pew … Continue reading