You’re right. But either way the “net worth” calculations are failing to account for the share of the national debt that still has to be paid back, and that’s doubled under Obama.
Kotlikoff estimates that at $220T IIRC, but I’ve heard some people slam his analysis. Any thoughts?
Remembering that the topic's 'American net-worth' we can forget the national debt held by Americans --it gets paid back later when Americans are taxed to pay themselves and total American wealth stays the same. We do need to count the national debt held by foreigners because eventually Americans will be taxed to pay foreigners and total American wealth will drop. Same with debt held by the Federal Reserve because they'll have to be paid back when they need to dump their debt to fight inflation.
Here's the actual American wealth taking into account debt Americans owe as taxpayers--
--and what we got is that the average American household is over $50 thousand poorer than it was before '07 when Pelosi took over. The good news is that households are on average $100k richer than they were when Pelosi got demoted..