The foundation of America's middle class is under strain.
High unemployment and the restructuring of the labor market have eroded middle-class incomes after decades of stagnation. Meanwhile, the cost of health care, education, and other essential middle-class goods have increased, consuming a larger share of household income. And the bursting of the housing bubble has wiped out trillions of dollars in home equity that the majority of Americans rely on as the primary source of wealth and retirement security.
In their latest presentation, Sherle R. Schwenninger, Director of the Economic Growth and American Strategy Programs at the New America Foundation, and Samuel Sherraden, Policy Analyst for the Economic Growth Program, evaluate the state of America's middle class after the Great Recession.