Sunday, 24 July 2011

Government leaders look after their money one way and your money another way. Changes in net worth 2008 to 2011.

                                                     2008                  2011                 % change
US Government in the hole      $9.5 Trillion      $14.3 trillion     DOWN 50%

Net worth in millions, change from 2008 to 2011__________________________
President Obama                       $7.0                 $10.5                  UP 50%
Speaker Boehner                       $1.7                   $2.1                  UP 24%
Minority Speaker Pelosi           $12.5                 $35.2                 UP 280%
Leader Reid                              $2.9                    $3.4                   UP 17%
Minority Leader McConnell      $6.1                    $9.8                  UP 60%

Some sources:  Here    Here    Here  Here
The trend is clear.  They look after their own money one way and look after other people's money (OPM) another way.   I'm happy for them that their net worth increased but a lot of people had losses during the same period.  It's admittedly hard to come up with accurate net worth figures.  Who knows what a piece of land or a share in a small business is really worth except when it is actually sold?

From "Open Secrets":
"It is difficult to gauge what a lawmaker is worth based on what they file because the disclosure forms do not require exact values. Instead, the lawmaker reports the range of value into which an asset, for example, falls. As the values increase, the ranges get broader."

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