America's middle class losing ground
May 7th, 2014
03:28 PM ET

America's middle class losing ground

America's middle class has been the envy of the world for decades. But a comprehensive new study suggests that America has lost yet another number one ranking – its middle class is no longer the richest in the world.

Fareed spoke with the New York Times’ David Leonhardt. Watch the full interview here.

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Topics: Economy • GPS Show • United States

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soundoff (33 Responses)
  1. The ENTIRE GOP PLATFORM in a single paragraph

    The GOP Prayer/Mantra/Solution: Dear God...With your loving kindness, help us to turn all the Old, Sick, Poor, Non-white, Non-christian, Female, and Gay people into slaves. Then, with your guidance and compassion, we will whip them until they are Young, Healthy, Rich, White, Christian, Male, and Straight. Or until they are dead. God...Grant us the knowledge to then turn them into Soylent Green to feed the military during the next "unfunded/off-the-books" war. God...Give us the strength during our speeches to repeatedly yell........TAX CUTS FOR THE RICH!!!..........and........GET RID OF SS AND MEDICARE!!!
    In your name we prey (purposely misspelled, or is it?)........Amen

    May 7, 2014 at 5:15 pm | Reply
  2. Joey Isotta-Fraschini©

    It is often necessary for an individual to downsize drastically in order to compete.
    Willingness to adjust to a changing environment may assure future success.

    May 7, 2014 at 5:21 pm | Reply
  3. John Smith

    America is the root of all terror. America has invaded sixty countries since world war 2.
    In 1953 America overthrow Iran's democratic government Mohammad Mosaddegh and installed a brutal dictator Shah. America helped Shah of Iran to establish secret police and killed thousands of Iranian people.
    During Iran-Iraq war evil America supported Suddam Hossain and killed millions of Iranian people. In 1989, America, is the only country ever, shot down Iran's civilian air plane, killing 290 people.
    In 2003,America invaded Iraq and killed 1,000,000+ innocent Iraqi people and 4,000,000+ Iraqi people were displaced.
    Now America is a failed state with huge debt. Its debt will be 22 trillion by 2015.

    May 7, 2014 at 5:22 pm | Reply
    • Joey Isotta-Fraschini©

      The Shah of Persia was a wonderful leader.

      May 7, 2014 at 5:27 pm | Reply
      • Joey Isotta-Fraschini

        Sorry, folks. I never posted that piece of crap above. I wonder how this bozo would feel if he himself was to be captured by the hated S.A.V.A.K. and tortured like having his nails pulled and electrodes put to his testicles. This went on all the time under the Shah Reza Pahlavi for about 26 years(1953-79). I would never condone this thug in a million years!

        May 8, 2014 at 2:53 am |
    • Joey Isotta-Fraschini©

      I wonder where @ John Smith resides...surely not in America, which he calls the root of all terror.
      I know: he lives in Russia!

      May 7, 2014 at 6:39 pm | Reply
      • Joey Isotta-Fraschini

        He does not! He lives here in American and happens to know what's what!

        May 8, 2014 at 2:54 am |
  4. Joey Isotta-Fraschini©

    The global market's correction of the USA's middle-class income level will occur in spite of druthers.
    A transition under Democrats word be kinder and gentler than that proposed by Republicans.
    Either way, reality will prevail over protectionism and dreamy "shoulds."

    May 8, 2014 at 8:36 am | Reply
  5. palintwit

    Every so often and as a public service I will post a list of the top 5 American Universities in order of their ranking.
    1. Stanford
    2. Princeton University
    3. Sarah Palin Academy
    4. Yale
    5. Columbia

    OK. I know what you're all thinking. You're all wondering "How did Yale make that list?"

    May 8, 2014 at 9:37 am | Reply
    • Joey Isotta-Fraschini©

      No, @ palintwit, what I'm wondering is how you would compare the educations of American-born 1959 graduates of Stanford, Princeton, and Yale with their 2013 counterparts.

      May 8, 2014 at 10:55 am | Reply
      • palintwit

        Rather you should ask a teabagger who spends a lot of time watching Fox News how he would compare the Isotta-Fraschini with a Duesenberg.

        May 8, 2014 at 11:39 am |
      • Joey Isotta-Fraschini©

        @ palintwit,
        You will remember that I never watch Fox News. I almost never watch anything on television.

        May 8, 2014 at 11:59 am |
    • The US Dept Of Defense

      The US DOD announces a new weapon available if hostile aliens try to take over the Earth. The DOD will allow Palin voters to "mind meld" with the aliens. The aliens' heads will immediately implode caused by the huge vacuum.

      May 8, 2014 at 2:20 pm | Reply
  6. Rusty Max

    Where is the data? The middle class is in a bad way, no doubt. The reasons why are debatable, certainly the explosion of exec comp does not account for it alone. But I would expect that globalization and productivity increases would make the absolute wages a lot closer. Percentage growth is a nearly useless measure since a large segment of the US middle class had inflated compensation (as measured against the world) due to union overreach (disclaimer: I am not anti-union, but clearly they had their own issues.

    Can you post absolute median and changes in income normalized to a single currency and inflation adjusted by region.

    Sorry if I don't take the NY Times at face value when they are supporting Democratic talking points on the cusp of a midterm election. But it does not mean they are wrong either.

    May 8, 2014 at 10:35 am | Reply
    • Joey Isotta-Fraschini©

      @ Rusty Max,
      It appears to me that you understand situations too well, and you are too honest to win most popularity contests.
      Why don't you just quote all the news that's fit to print?

      May 8, 2014 at 11:11 am | Reply
  7. Portlandtony

    It appears that today that if you don't qualify for government assistance you are "middle class".

    May 8, 2014 at 10:42 am | Reply
    • Joey Isotta-Fraschini

      Well said, Portlandtony. The right-wing thugs in Washington only cares about obtaining votes from the ever shrinking middle class, not their welfare.

      May 8, 2014 at 11:17 am | Reply
  8. chrissy

    Lol and youre exactly right @ portland tony! As for the recession that did the most damage to the middle class...mostly we have the banking industry to thank first and foremost! Their approval to every Tom, Dick and Harry to purchase houses was the start. Then inflating the home value to outrageous amounts helped it along when jobs started leaving! Oh and then all that "free money" they recieved from GWB under the guise of a "bailout" didnt quite work out either. Especially since there was no requirement of accountability or paying back, as was placed on the auto industry! So end result people were not only allowed but ENCOURAGED to live outside their means! And now the US Government seems to be following that very same pattern! Borrowing money to pay bills but mostly to fund other countries militaries! It just does not work! They need to cease and desist that process NOW!

    May 8, 2014 at 11:01 am | Reply
  9. chrissy

    Lol @ the real Joey! It only took 6 mins for you fan , the derpasstroll, to use your name! Hes getting quicker lol.

    May 8, 2014 at 11:24 am | Reply
    • Joey Isotta-Fraschini©

      @ chrissy, good morning.
      Le vrai Joey est vert.

      May 8, 2014 at 11:37 am | Reply
      • George Patton-2

        Pas possible! Le vrai Joey ici est noir et dit toujours la verite.

        May 8, 2014 at 2:26 pm |
      • Joey Isotta-Fraschini©

        A writer who uses countless screen names does not always speak the truth.
        I know, however, that the troll always expresses his opinions forthrightly, even when he uses Robert Schumann's conversational style of criticism to trouble the waters.

        May 8, 2014 at 8:12 pm |
      • dazzle

        Vous ne savez une chose a propos de la classe moyenne generale.

        May 8, 2014 at 11:11 pm |
      • rupert

        Viva la france. Francis mecher dazzle? Ob neyt coium ni olita un beso

        May 9, 2014 at 12:12 am |
      • Joey Isotta-Fraschini©

        Not @ dazzle at 11:11 pm

        May 9, 2014 at 5:49 pm |
  10. palintwit

    Given the evidence, it is highly, highly suspect that Sarah Palin gave birth to the Trig Palin.

    May 8, 2014 at 12:16 pm | Reply
    • The US Dept Of Defense

      The US DOD announces a new weapon available if hostile aliens try to take over the Earth. The DOD will allow Palin voters to "mind meld" with the aliens. The aliens' heads will immediately implode caused by the huge vacuum.

      May 8, 2014 at 2:19 pm | Reply
    • So true

      So true. Trig is soooo much smarter than she is.

      May 10, 2014 at 6:20 pm | Reply
  11. chrissy

    The DoD is so intelligent they had parts to their military drones sent to a college kid in NY! I dont think we should put alot of faith in them!

    May 8, 2014 at 4:50 pm | Reply
    • Joey Isotta-Fraschini©

      @ chrissy, that's only what happens in the shipping office.
      I rejoice in our ability to develop drones and operate them with skill.

      May 8, 2014 at 8:21 pm | Reply
  12. chrissy

    Well im glad youre happy @ Joey! I would assume they would not use standard shipping with such delicate equipment though! Sounds way too lackadaisy to me!! As for the skill they've been using...thats highly debatable as yet!

    May 8, 2014 at 8:55 pm | Reply
  13. Frede

    The proposed solution is to be seen as a consequence of the bad development in the country. The difference between the rich and poor is way to big, and something definately needs to be done. The people with most stability therefore need to help thoose who can't take care of themselves. The American middel class has had extreme small growth especially since 2000. Thats why some of the greatere investors in the us, reported to the upper class are going to help them. If the goverment raise the taxes for the upper class, and spend it on education and health inssurance for the lower class, you can create stability.

    May 9, 2014 at 8:53 am | Reply
    • Joey Isotta-Fraschini©

      Yeah, right. @ Frede.
      I want to help "thoose" in the middle class who can't spell. That will create stability.

      May 10, 2014 at 2:58 pm | Reply

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