So how's that recovery workin for ya?

The legacy of 8 years of George Monkey Bush and his "War on Americans
(tm)" continues to just keep on giving.

In other news:

America's working mothers are now the primary breadwinners in
a record 40 percent of households with children -- a milestone
in the changing face of modern families, up from just 11
percent in 1960.

The findings by the Pew Research Center, released Wednesday,
highlight the growing influence of "breadwinner moms" who keep
their families afloat financially. While most are headed by
single mothers, a growing number are families with married
mothers who bring in more income than their husbands.

The american male. Being replaced by females. It's the american way.

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MoneyWatch/ May 31, 2013, 12:07 PM

Wealth of most Americans down 55% since recession

(MoneyWatch) Increasing housing prices and the stock market''s posting
all-time highs haven't helped the plight most Americans. The average
U.S. household has recovered only 45 percent of the wealth they lost
during the recession, according to a report released yesterday from the
Federal Reserve Bank of St. Louis.

This finding is a very different picture than one painted in a report
earlier this year by the Fed that calculated Americans as a whole had
regained 91 percent of their losses. The writers of the report released
yesterday point out that the earlier number is based on aggregate
household-net-worth data. However, this isn't adjusted for inflation,
population growth or the nature of the wealth. Further, they say much of
recovery in net worth is because of the stock market, which means most
of the improvement has been a boon only to wealthy families.

"Clearly, the 91 percent recovery of wealth losses portrayed by the
aggregate nominal measure paints a different picture than the 45 percent
recovery of wealth losses indicated by the average inflation-adjusted
household measure," the report said. "Considering the uneven recovery of
wealth across households, a conclusion that the financial damage of the
crisis and recession largely has been repaired is not justified," the
researchers said.

Household wealth plunged $16 trillion from the top of the real estate
bubble in the third quarter of 2007 to the bottom of the bust in the
first quarter of 2009. By the last three months of 2012, American
households as a group had regained $14.7 trillion.

The report says almost two-thirds of the increase in aggregate household
wealth is due to rising stock prices. This has disproportionately
benefited the richest households: About 80 percent of stocks are held by
the wealthiest 10 percent of the population.

Much of the total wealth of middle- and lower-income households is based
on home values, not stocks. Even though home prices have increased
nearly 11 percent in the past year, they remain about 30 percent below
their peak.

While Americans continue to pay down their debt, the report says debt
levels and problems with rebuilding net worth are the main reasons the
recovery has been so slow. Also, the people who bore the brunt of the
recession through job losses and reduced income were the ones who had
borrowed the most.

The report found that members of the households that suffered the most
financially were less educated, relatively young or black or Hispanic,
or some combination of these factors. Those families tended to have low
savings and high debt, with much of their wealth based on housing.

The poorest households have felt the sharpest losses as a consequence of
the recession: "While many Americans lost wealth during the Great
Recession, younger, less-educated and nonwhite families lost the
greatest percentage of their wealth," James Bullard, president of the
St. Louis Fed, said in a statement. "Household deleveraging, or paying
down debt, has played a key role in the recent recession and the slow
recovery."