Despite recovery, fewer Americans identify as middle class | Pew Research Center:
'The nationally representative survey of 1,504 adults conducted Jan. 15-19 found that the share of Americans who identify with the middle class has never been lower, dropping to 44% in the latest survey from 53% in 2008 during the first months of the Great Recession.
At the same time, the share of the public who says they are in the lower or lower-middle classes rose by 15 percentage points, from 25% in 2008 to 40% today."
Much of this change has taken place in the last two years. One would expect a political backlash aimed at changing the rules of the bipartisan Reaganomics system that is so flagrantly rigged in favor of the rich at the expense of the middle class. But instead we see people obsessed with sports, celebrities, guns, and bizarre conspiracy theories. Young people are getting savaged by this economy: "In 2008, a quarter of all young adults identified as being in the lower or lower-middle class; today about twice as many do (49%), a 24-point increase." And those who venture into college are being placed in lifelong debt servitude. But just wait--on election day in November they will stay home in droves.