Is McCain going to explain his recent comment that "America's seen great economic progress" in light of the facts saying otherwise? When you're living the life of Riley like McCain (he does have eight or nine houses, his wife can't remember which), perhaps you don't notice these trends. And to think he wants more of the same on the economy.
Americans saw their net worth decline by $1.7 trillion in the first quarter, as declines in home values and the stock market ravaged their holdings.
The net worth of U.S. households fell 3% to $56 trillion at the end of March, according to the Federal Reserve's flow of funds report, which was released Thursday.
The drop marks the second straight decline in net worth, which fell by more than $500 billion in the fourth quarter of 2007.
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