Millionaire Freshmen Make Congress Even Wealthier

Oh, the humanity! Don’t forget, a normal person in the private sector would have to save several million to be able to generate the lifetime income these clowns enjoy! Angry

Ninety-four new senators and House members joined the 113th Congress. But if voters felt the last group of lawmakers was out of touch with “real America,” the new class may not be better. In fact, according to a new analysis by the Center for Responsive Politics, the median estimated net worth of the incoming freshmen is almost exactly $1 million more than that of the typical American household.According to data collected from personal financial disclosure forms filed by all members of Congress and candidates who succeeded at the polls in November, the median net worth of the 94 incoming lawmakers at the end of 2011 was $1,066,515. The most recent numbers available from the U.S. Census show that the median net worth of the typical American household is $66,740.

“While America continues to claw its way back to economic stability, voters have nevertheless chosen to elect new members of Congress who have already made it big,” noted Sheila Krumholz, executive director of the Center. “Apparently, on the whole, we don’t want people who look like us, financially speaking. What’s harder to measure is whether these new legislators appreciate the financial pain people face and can effectively represent them despite the fact that they themselves are well off.”

While they may be worth significantly more than most Americans, the incoming freshmen are on par with their colleagues in Congress. All 535 members of Congress have a median estimated net worth of about $966,000, according to CRP data.

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