December 11, 2015
Pew: Majority of U.S. families no longer middle-class
Result of bad trade deals and Corporate America’s war on unions
An alarming report by The Pew Research Center out this week indicates the United States could become the world’s first post-middle class society.
The nation’s middle class, long a pillar of the U.S. economy and foundation of the American dream, has shrunk to the point where it no longer constitutes the majority of the adult population, according to a new major study.
The Pew Research Center report released Wednesday put in sharp relief the nation’s increasing income divide, which is certain to be a central issue in the 2016 presidential race. It also highlights how various economic and demographic forces have eroded long-held ideals about maintaining a strong, majority middle class.
Many analysts and policymakers regard the shift as worrisome for economic and social stability. Middle-income households have been the bedrock of consumer spending, and many liberals in particular view the declining middle as part of a troubling trend of skewed income gains among the nation’s richest families.
Source: Study: U.S. middle-class families are no longer in the majority | News & Observer
Remember this chart
The Pew Research Center report will come as little surprise to anyone who has seen this chart.