We Are Doomed!

We’re doomed?

Sounds a bit melodramatic.

I should probably wear one of those black, medieval cloaks with the big hood, set up dramatic back lighting and do arm waving as I moan. Doom! DOOOOOOM! Do you think that I should get some chains to rattle?

Might be overkill.

However ridiculous the word picture, it doesn’t change the fact of our eventual demise. We really, truly are on the path to complete ruin. We have lost control of our political system, and our leadership grows richer while our nation grows poorer. We have allowed slick advertising and empty promises to set the agenda. We’ve allowed wealth to determine who gains political office.

And there is no sense of outrage over this.

No, the outrage seems to be pointed elsewhere, towards Wall Street and not our political leadership.

Here are a 12 facts to illustrate:

#1 The collective net worth of all of the members of Congress increased by 25 percent between 2008 and 2010.

#2 The collective net worth of all of the members of Congress is now slightly over 2 billion dollars.  That is “billion” with a “b”.

#3 This happened during a time when the net worth of most American households was declining rapidly.  According to the Federal Reserve, the collective net worth of all American households decreased by 23 percentbetween 2007 and 2009.

#4 The average net worth for a member of Congress is now approximately 3.8 million dollars.

#5 The net worth of House Minority Leader Nancy Pelosi increased by 62 percent from 2009 to 2010.  In 2009 it was reported that she had a net worth of 21.7 million dollars, and in 2010 it was reported that she had a net worth of 35.2 million dollars.

#6 The top Republican in the Senate, Mitch McConnell, saw his wealth grow by 29 percent from 2009 to 2010.  He is now worth approximately 9.8 million dollars.

#7 More than 50 percent of the members of the U.S. Congress are millionaires.

#8 In 2008, the average cost of winning a seat in the House of Representatives was $1.1 million and the average cost of winning a seat in the U.S. Senate was$6.5 million.  Spending on political campaigns has gotten way out of control.

#9 Insider trading is perfectly legal for members of the U.S. Congress – and they refuse to pass a law that would change that.

#10 The percentage of millionaires in Congress is more than 50 times higher than the percentage of millionaires in the general population.

#11 U.S. Representative Darrell Issa is worth approximately 220 million dollars.  His wealth grew by approximately 37 percent from 2009 to 2010.

#12 The wealthiest member of Congress, U.S. Representative Michael McCaul, is worth approximately 294 million dollars.

The above facts come from an article called 12 Facts About Money And Congress That Are So Outrageous That It Is Hard To Believe That They Are Actually True.

We really are where Rome was when it fell.