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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsU.S. middle class set back over last decade-report
http://www.reuters.com/article/2012/08/22/usa-economy-middleclass-idUSL2E8JM4U920120822WASHINGTON, Aug 22 (Reuters) - The U.S. middle class has shrunk drastically over the last 10 years as Americans' net worth has plunged, wages declined and standards of living slipped away, according to a report released on Wednesday.
Middle-income earners, long seen as the solid center of the country, are pessimistic and place the blame squarely on U.S. lawmakers, banks and big business, the findings by the Pew Research Center showed.
"America's middle class has endured its worst decade in modern history," researchers wrote.
Since 2001, median household income has fallen from $72,956 to $69,487 in 2010, the report said.
FreakinDJ
(17,644 posts)xchrom
(108,903 posts)i hope this does a Hell of a lot better.
steve2470
(37,457 posts)This study needs to be discussed during the campaign.
fleur-de-lisa
(14,628 posts)No wonder the 1% was scared enough to foist Richie Rich on the Repukes as their nominee . . . they hear the frustration from the middle class and they're scared.
applegrove
(118,793 posts)is doing fine.
Joe Shlabotnik
(5,604 posts)Some of us from industrial areas never recovered after Can-US FTA and NAFTA and loss of unionized jobs. Its been a lost 15-20 years with zero new investment to replace them. And we're sitting on a housing bubble of our own and relying increasingly on a fickle natural resource economy now. No time to be smug.
applegrove
(118,793 posts)I was not being smug. I was pointing out that deregulation of financial markets cost more to Americans than it was worth. Afterall the GOP is trash talking Dodd-Frank.
Joe Shlabotnik
(5,604 posts)Just pointing out that sometimes we can be a bit sanctimonious when just under the surface there is a lot of ugly news regarding personal debt, national debt, shallow job market, lack of non-resource extraction based investment.
Harper preemptively bailing out Canada's banks proved that they were in fact too big to fail, and that now we have an additional 160 billion exposure added to the national debt if people start to default.
applegrove
(118,793 posts)the American middle class one in order to emphasize the grievous wrong not regulating banking and markets can cause. This crisis in the USA was not necessary. It didn't have to happen. How financial markets are regulated is up for grabs in this election. I want Democrats to have all the evidence possible for when they talk to family, friends and neighbours or volunteer at call banks and such in the months to come.