Nearly Half Of the Congress Are Millionairs

The Center for Responsive Politics has reported that almost half of members of  the U.S. House and Senate are  millionaires.

New study said, that about 47% of Congress, or 249 current members are millionaires, 36 Senate Democrats, and 30 Senate Republicans reported an average net worth in excess of $1 million  in 2010.  The same was true for 110 House Republicans and 73 House Democrats.

According to the Center’s research, “in 2010, the estimated median net worth of a current U.S. senator stood at an average of $2.56 million.”

” The vast majority of members of Congress are quite comfortable, financially, while many of their own constituents suffer from economic hardships,”said Sheila Krumholz, executive director of the Center for Responsive Politics. –” Few Americans enjoy the same financial cushions maintained by most members of Congress — or the same access to market-altering information that could yield personal, financial gains.”

Despite the global  economic meltdown  in 2008 and the sluggish recovery that followed, that’s up about 7.6 percent  from an estimated median net worth of $2.38 million  in 2009and up 13 percent from a median net worth of $2.27 million in 2008.

American politicians’ wealth is ever more concerning in the light of “Occupy” tendency, when people are outraged, that while “1% club” enjoys all the beauties of the rich men world, the rest of U.S. population have to struggle from recession, unemployment and as a result – poverty.

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