In other words, from the beginning of the Bush administration, during which the erosion of middle-class income and the growth of super-rich income accelerated to a gap difficult to bridge. Obama has been hamstrung since day one, although he really should have abandoned bipartisanship when he had the chance in his first two years.
Will the middle class remember who’s really to blame?
America’s middle-class earners lost significant ground during the last decade as their incomes dropped for the first extended period since World War II, according to a report released Wednesday by the Pew Research Center.
The decade also saw a significant widening of the household income gap between the wealthy and the middle class, the old and the young, and people who are married vs. unmarried.
The report found that, while the economy is recovering, it likely will be years before the middle class can entirely reverse the deep losses suffered over the 10-year span.