Scary Stuff in Pew Study on Middle Class
Hilarious story from the AP. Unemployment applications went up, and AP said that this is a sign that the job market is improving, that it is steadying out. An increase in unemployment compensation requests, and this is good news for the employment market.
And then there’s this. There’s a Pew Research Center poll out. “Fifty percent of adults defined as ‘middle class’ have suffered its worst decade in modern history.” I saw that last night, and that’s the first thing I saw, and I went, “Well, what are people gonna make of this? Worst decade in modern history.” This we know. People in the middle class know it. People not in the middle class looking at it know it. Everybody. This economy is pathetic. So the Pew Center says that roughly 50% of adults defined as middle class have suffered the worst decade in modern history. In fact, the American middle class has fallen backward in income for the first time since the end of World War II.
According to Pew, 85% of middle class Americans say it is more difficult now than a decade ago to maintain their standard of living, 85%. Eighty-five percent say it is more difficult now than it was ten years ago to maintain their standard of living. Sixty-two percent say a lot of the blame lies with Congress. A slight majority says a lot lies with banks and financial institutions. Eight percent blame the middle class. In other words, 8% blame themselves. Apparently Pew didn’t ask anybody if they blamed Obama. Maybe they didn’t want to know.