Wednesday, February 02, 2011

Snapshot of the U.S. Economy

Household and non-profits' net worth plummeted from a high of $64 trillion in 2006-07 down to a low of $49 trillion in early 2009 before regaining a bit to $55 trillion in late 2010 (the latest data reported).

So, assuming 100 million households (and no non-profits), every household lost $140,000 in net worth and is now only worth $550,000. If every household had to pay an equal share of the national debt, that would also be worth $140,000, which is about $20,000 more per household or $2 trillion in aggregate more than 2009.

Federal Reserve data here. Debt clock information here.

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