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Congress: Fat City. USA: Slim City.

Written by Gary North on December 29, 2011

The numbers are in! Members of Congress are richer by 15% than in 2004. The general public is poorer by 8%.

We truly have the best government money can buy. From 2004 to 2010 members of Congress increased their median net worth by 15 percent while the average American saw it fall by 8 percent.

Yet American consumers are not cutting back. They are spending.

It is a fascinating exercise in consumer behavior that Americans are out spending in full force even if it is with other people’s money. The economy is still in bad shape and those who were fortunate enough to land jobs in this recession are likely in employment that now pays much less. Most of the jobs that were lost during the recession were higher paying jobs yet most of the jobs that have been added have come from the lower wage sectors.

. . . over 5,000,000 mid-wage to high-wage jobs were lost yet less than 1,000,000 have been added since this recession supposedly ended in the summer of 2009. Where does this leave most Americans? It leaves them further and further behind while their elected officials continue to practice an ancient art of dog and pony show yet most Americans are waking up from the fog. This is why there is so much fragmentation in the current political system. The mainstream press is built on a clean and simple two party battle. Ultimately this allows the system to continue to pilfer the majority and keep people as docile spending vehicles. Yet that game is no longer holding up.

Median household income is $50,000 a year. But the average salary is $25,000. “The underlying assumption they are pushing is everything is fine and dandy because people are out unloading their cash this holiday season. As Congress becomes more and more like those it represents, expect more frustration from a population who is no longer being represented in D.C.”

The system works for Congress. It works far less well for the voters.

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