Another Obama Milestone… US Middle Class No Longer Most Affluent in the World
Barack Obama promised to remake America in his 2009 Inaugural speech.
And, he has.
America is now poorer, less respected and $17 trillion dollars in debt.
And the US middle class is no longer the most affluent in the world.
The New York Times reported:
The American middle class, long the most affluent in the world, has lost that distinction.
…Although economic growth in the United States continues to be as strong as in many other countries, or stronger, a small percentage of American households is fully benefiting from it. Median income in Canada pulled into a tie with median United States income in 2010 and has most likely surpassed it since then. Median incomes in Western European countries still trail those in the United States, but the gap in several — including Britain, the Netherlands and Sweden — is much smaller than it was a decade ago.