The Great Recession wiped out a huge chunk of the average family’s wealth, setting the U.S. back by nearly two decades…and these stats are based on 2007 folks!  Can you imagine what they are today?

POSTED ON JUNE 12, 2012, AT 12:17 PM
A boy waves a flag during the annual Memorial Day Parade in New Canaan, Conn., one of the wealthiest communities in the U.S.: According to a new report, the median family income dropped 8 percent from 2007 to 2010.

A boy waves a flag during the annual Memorial Day Parade in New Canaan, Conn., one of the wealthiest communities in the U.S.: According to a new report, the median family income dropped 8 percent from 2007 to 2010.Photo: Andrew Lichtenstein/CorbisSEE ALL 27 PHOTOS

The median American family — the exact middle between the wealthiest and the poorest — had the same amount of money in 2010 as it did in 1992, according to the Federal Reserve’s Survey of Consumer Finance, an extensive and detailed look at American wealth undertaken every three years. While the latest data is 18 months old, it underscores the astonishing economic devastation wreaked by the Great Recession, which, beginning in 2007, swept away a chunk of the wealth accumulated since the early 1990s. Continue Reading…

http://blogs.reuters.com/david-rohde/2012/01/13/white-house-the-american-middle-class-is-shrinking/