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Washington – The median net worth of American households has dropped to a 43-year low as the lower and middle classes appear poorer and less stable than they have been since 1969.

According to a recent study by New York University economics professor Edward N. Wolff, median net worth is at the decades-low figure of $57,000 (in 2010 dollars). And as the numbers in his study reflect, the situation only appears worse when all the statistics are taken as a whole.

According to Wolff, between 1983 and 2010, the percentage of households with less than $10,000 in assets (using constant 1995 dollars) rose from 29.7 percent to 37.1 percent. The “less than $10,000″ figure includes the numerous households that have no assets at all, or “negative assets,” which is otherwise known as “debt.”

Over that same period of time, the wealthiest 1 percent of American households increased their average wealth by 71 percent.

As noted by Daily Finance, from 1983 to 2010 the share of total wealth held by the richest 10 percent of American households increased from 68.2 percent to 76.7 percent. Meanwhile, all the rest of Americans lost financial ground.

Read more from this story HERE.

Photo credit: jdnx

Obama’s plans to undercut the political and economic independence of America’s suburbs reach back decades. The community organizers who trained him in the mid-1980s blamed the plight of cities on taxpayer “flight” to suburbia. Beginning in the mid-1990s, Obama’s mentors at the Gamaliel Foundation (a community-organizing network Obama helped found) formally dedicated their efforts to the budding fight against suburban “sprawl.” From his positions on the boards of a couple of left-leaning Chicago foundations, Obama channeled substantial financial support to these efforts. On entering politics, he served as a dedicated ally of his mentors’ anti-suburban activism.

The alliance endures. One of Obama’s original trainers, Mike Kruglik, has hived off a new organization called Building One America, which continues Gamaliel’s anti-suburban crusade under another name. Kruglik and his close allies, David Rusk and Myron Orfield, intellectual leaders of the “anti-sprawl” movement, have been quietly working with the Obama administration for years on an ambitious program of social reform.

In July of 2011, Kruglik’s Building One America held a conference at the White House. Orfield and Rusk made presentations, and afterwards Kruglik personally met with the president in the Oval Office. The ultimate goal of the movement led by Kruglik, Rusk, and Orfield is quite literally to abolish the suburbs. Knowing that this could never happen through outright annexation by nearby cities, they’ve developed ways to coax suburbs to slowly forfeit their independence.

One approach is to force suburban residents into densely packed cities by blocking development on the outskirts of metropolitan areas, and by discouraging driving with a blizzard of taxes, fees, and regulations. Step two is to move the poor out of cities by imposing low-income-housing quotas on development in middle-class suburbs. Step three is to export the controversial “regional tax-base sharing” scheme currently in place in the Minneapolis–St. Paul area to the rest of the country. Under this program, a portion of suburban tax money flows into a common regional pot, which is then effectively redistributed to urban, and a few less well-off “inner-ring” suburban, municipalities.

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Study: American Households Hit 43-Year Low In Net Worth

Obama wants to kill the suburbs. Really.