While the economy remains unstable, foreclosures skyrocket upwards, unemployment hovers near double-digits and economic indicators yield little inspiration, members of Congress enjoy growing personal bank accounts.
In its annual report on the wealthiest members of Congress, The Hill found lawmakers haven’t struggled with a lagging economy at all, in fact they got even richer.
According to the report, the 50 richest members of Congress have portfolios worth about $1.4 billion in 2009; this figure is up about $85.1 million the year before. The Hill’s annual review of lawmakers used financial disclosure forms as their marker to measure Congressional personal wealth.
It was Democrat Sen. John Kerry of Massachusetts who topped the list for a second year in a row. His net worth increased more than $20 million the past year and now stands somewhere in the $188 million range.
Comments 1
We would argue that the chosen headline of this post has nothing to do with the story. If the conclusion is that serving in Congress makes one richer — which the headline implies — there is no evidence in the story to suggest back it up. One could just as easily conclude that wealthier people get elected to Congress. Chicken or the egg?
If you take any community — say Everytown, USA — and identified its wealthiest citizens, that may be saying something. What it would not be saying, however, without further evidence, is that living in Everytown “has its benefits.”