The Federal Reserve released a report, the 2010 Survey of Consumer Finances. This is a report on household wealth from 2007-2010, removing effects of inflation. No surprise, median net worth declined by 38.8% from 2007 to 2010 and is down to 1992 levels. Why this should be no surprise is due to the housing bubble and declining home values. A home is the largest asset many people have.

The Census released a comprehensive report on poverty, income and health insurance coverage in the United States for 2010. There were 46.18 million people living in poverty, in the United States. The Census population for 2010 was 305,688,000. This means that 15.1% of people in the United States are below the poverty thresholds, or one in 6.6 people.

Michael Collins

The Money Party is destroying the United States. For ten years, there have been no new jobs with flat income. Unemployment and poverty are making a big comeback. The party consists of those who own and control concentrations of great wealth and the select few who serve them (their Mandarins). Based on the efficiency of the demolition job, you have to wonder, is this is by design? If greed, ignorance, and paranoia constitute a plan, then they are master planners. (Image)

Look at the glaring problems below. Then ask yourself, has there been one single program implemented to address any of these problems, just one? Our elected representatives enable the relentless process of driving down the United States. They bicker and fume at the edge of issues. However, when it comes to neglecting the real needs of citizens and the country, they are as one. All rewards and resources flow to their patrons and owners, the made men and women of The Money Party. We are nothing to them.

When is our Congress going to kick those lobbyists to the curb and do the right thing? Don't hold your breath! The Joint Economic Committee held a hearing on July 23, entitled, How Much More Can American Families Be Squeezed By Stagnant Wages, Skyrocketing Household Costs, And Falling Home Prices?

Now from the title, one might wonder if the question is poised to Wall Street wondering just how much money is left to pilfer from the pockets of the middle class. Still, there is always good information and rhetoric in these hearings.