The House of Unrepresentatives: Facts About Congress In a Shutdown

By The Globalist, October 4, 2013 The U.S. Congress was unable to pass a budget—one of its primary Constitutional obligations—to keep the federal government open past September 30, the end of the 2013 fiscal year. But while nearly a million federal workers were furloughed without pay, Congress is far less likely to feel the pinch financially. Why? Because they are, by and large, rich. Here are the facts. 17 of members of Congress in 2013—or about 3% of all 535 members of the current Congress—have an estimated average net worth of more than $50 million each, according to their financial disclosures for the year 2011. The wealthiest member of Congress today, based on financial disclosures for 2011, was Republican Michael McCaul, who represents Texas’s 10th Congressional district. McCaul and his wife had an estimated wealth of just over $500 million that year. The combined net worth of the 17 richest members of Congress was almost $2.5 billion in 2011. Members of Congress are paid an annual salary of $174,000. Under the rules of the federal government shutdown, they will continue to receive their salaries—even as hundreds of thousands of government workers are furloughed without pay. A total of 253 members of the U.S. Congress—or about 47% of all members—have an estimated net worth of at least $1 million. In comparison, only about 9% of all U.S. households can be considered “millionaires.” For the United States as a whole, the Census Bureau estimates that the typical U.S. household had a net worth of just $68,828—including the value of their home, cars and financial investments. Thus, the median Congressman was almost 14 times wealthier than the family he represents.