Congressional Lawmakers Have Full Personal Piggybanks Despite Economy, Study Finds

[WestVirginiaRebel]

Fox News:

Congress may be scrambling for ways to shrink the deficit while drawing phantom funds from the federal government's empty wallet, but a new study from the Center for Responsive Politics suggests that the nation's financial hole hasn't swallowed their personal piggybanks.

Despite an ailing economy, congressional lawmakers' personal wealth increased by more than 16 percent between 2008 and 2009, according to a study of federal financial disclosures conducted by the nonpartisan research center.

Nearly half of the legislators claim assets of over $1 million, a chunk of change claimed by only one percent of Americans. That's up from last the previous year's numbers, the study finds. Fifty-five of the 261 congressional millionaires in 2009 enjoyed an average calculated wealth of $10 million or more. Eight are worth $100 million-plus.

At a median wealth of close to $2.38 million in 2009, the U.S. Senate is richer than the House. Its members' median wealth was $765,010. The median for both chambers in 2009 increased to $911,510 from 2008's $785,515.

According Center for Responsive Politics calculations, California Republican Rep. Darrell Issa's personal wealth tops the list of the richest members with holdings topping $303.5 million and fellow Golden State Rep. Jane Harman (D) is close on his heels with $293.4 million. Sen. John Kerry (D-MA) comes in third at $238.8 million.

Between 2008 and 2009, Issa, Harman and Kerry reported increased wealth to the tune of 21 percent, 19.8 percent, and 14.3 percent, respectively.

Among the wealthiest members, Democrats and Republicans are almost evenly represented. In the House, five Democrats and five Republicans make the top 10. Six Democrats and four Republicans complete the top 10 wealthiest list on the Senate side.
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But remember, you can trust them with our money...