Financial security, Brainard said, is an important marker of middle-class living. That so many households are having trouble saving for even minor crises is bad news for the economy.
"Having a strong middle class implies that families with average incomes have the purchasing power to consume and the savings to invest," said Brainard. "So a strong middle class is often seen as a cornerstone of a vibrant economy and, beyond that, a resilient democracy.
"The wealth of the top 10% of households is 19% higher than before the recession, even after factoring in the decline in stock prices at the end of last year," said Brainard. "In contrast, the wealth of middle-income families still has not returned to its pre-crisis level, and lower-income families have a wealth shortfall of 16%."
MakeIt A third of middle class adults can’t manage money.
MakeIt That’s ok, the government will bail them out. Simply fill out the “we believe in fairy godmother’s loan application”. Just remember that President Obama promised us free money for all loan.
MakeIt No but they have a $1000.00 phone. Priorities not greed
MakeIt Trickle down economics. We should give corporations more tax breaks so maybe one day we can all be included.
MakeIt But they have a smartphone, cable, go out to eat, are over weight from over eating, should I go on.
MakeIt What is your definition of middle class? Sounds like a very questionable statement.
MakeIt That’s how much I can spent at Costco on an empty stomach
MakeIt We are screwed if this is true.
MakeIt That's not 'middle-class,' that's poor.
MakeIt Not good!! 🤔🤔
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