America Crosses The Tipping Point: The Middle Class Is Now A Minority

 

Americans have long lived in a nation made up primarily of middle-class families, neither rich nor poor, but comfortable enough, notes NPR’s Marilyn Geewax, but this year – for the first time in US history, that changed. A new analysis of government data shows that as of 2015, middle-income households have become the minority, extending a multi-decade decline that confirms the hollowing out of society as 49% of all Americans now live in a home that receives money from the government each month. Sadly, the trends that are destroying the middle class in America just continue to accelerate.

Back in 1971, about 2 out of 3 Americans lived in middle-income households. Since then, the middle has been steadily shrinking.

5 Sure Signs the U.S. Economy is Finished

And the fact is, the gap between high- and low-income groups is the widest it has been in 100 years and the share of U.S. consumers who call themselves middle class has never been lower.But those aren’t the only signs the economy isn’t all that it’s cracked up be. In fact, there are five unmistakable signs the U.S. Economy is teetering on the brink.

Exclusive: 4 in 5 in US face near-poverty, no work

WASHINGTON (AP) — Four out of 5 U.S. adults struggle with joblessness, near poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.

…

The findings come as President Barack Obama tries to renew his administration’s emphasis on the economy, saying in recent speeches that his highest priority is to “rebuild ladders of opportunity” and reverse income inequality.