Middle Class Shrinks Further as More Fall Out Instead of Climbing Up - NYTimes.com - 3 views
-
hcps-lynchkg on 01 Feb 15"The middle class that President Obama identified in his State of the Union speech last week as the foundation of the American economy has been shrinking for almost half a century." This article talks about what the definition of middle class is and the major differences between the upper and middle classes in the United States today. It also talks about what President Obama is doing to try and help "revive" the middle class.
-
hcps-qinls on 01 Feb 15"In the late 1960s, more than half of the households in the United States were squarely in the middle, earning, in today's dollars, $35,000 to $100,000 a year. Few people noticed or cared as the size of that group began to fall, because the shift was primarily caused by more Americans climbing the economic ladder into upper-income brackets. But since 2000, the middle-class share of households has continued to narrow, the main reason being that more people have fallen to the bottom." This article addresses the increasing income gap between the upper and lower class of America, as well as the shrinking middle class caused by more and more people falling to the bottom. It also provides data on the dramatic differences between each class, including general composition and average income; the results of income cause differences in lifestyle and needs.