A recent report by the research project found that one in three Americans raised in the middle class fall out of it as adults. Host Audie Cornish speaks with Erin Currier of the Pew Charitable Trusts' Economic Mobility Project about pressures on the American middle class.
With unemployment too high, economic growth too low, and the gap between the rich and poor widening, the American Dream is hurting. Adding to the gloom is the polarization in Washington, where even a simple task like raising the country’s debt ceiling nearly led to economic cataclysm this summer.
It is the primary liberal argument that America’s primary economic problem is growing income inequality. For three decades, in this view, the rich have grown richer while middle-class incomes have stagnated.
State governments across the United States are just a few months into their fiscal years and already many fear that tax revenues are running short of forecasts. This is getting to be an annual ritual. Officials in New York, California, Florida and Washington this year have all expressed concerns about the outlook.