Good News, Bad News

Another New England state, Rhode Island, this week followed Vermont’s lead and now gay marriage is legal across the northeastern United States. Gains for women in America have been protected. And the first African-American president is serving out his second term. But while there has progress in America on social issues, the economic well-being of most people is slipping. Case in point: From 2009 to 2011, the average wealth of America’s richest 7 percent — the 8 million households with a net worth north of about $800,000 — rose nearly 30 percent to $3.2 million from $2.5 million, according to a Pew Research Center report that analyzed recent Census data. By contrast, the average wealth of America’s remaining 93 percent, some 111 million households, actually dropped by 4 percent to $134,000 from $140,000. Sen. Bernie Sanders talked about the good news and the bad news during his weekly appearance Thursday on The Thom Hartmann program.

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