Nearly one-third of the middle class suffered downward mobility......BEFORE the Great Recession hit

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By Tami Luhby | CNNMoney.com – 10 hours ago


Nearly one third of Americans who were raised in the middle class dropped down the economic ladder as adults -- and that's before the Great Recession hit.

"Being raised in the middle class is not a guarantee that you'll have that same status as an adult," said Erin Currier, project manager at Pew's Economic Mobility Project. "With all the economic turmoil in the past four years, there's good reason to think that downward mobility is more severe."

Pew looked at children born in the early- to mid-1960s and assessed their economic status roughly 40 years later.

Being middle class in the parents' generation meant a household income of roughly $33,000 to $64,000 in 1979. But their children had to earn between $54,000 and $111,000 to maintain their relative standing in society in the mid-2000s. (These figures are adjusted for inflation.) ...........(more)

The complete piece is at: http://finance.yahoo.com/news/nearly-one-third-middle-class-102300614.html

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1. This is why we seen so many people about my age who were just getting into politics about then

As long as Reagan's anti-union economic policies were screwing over those "other people", they we fine with it. They didn't even waste their time with politics. Too busy riding that Reagan train to hell.

But when those same policies they once liked began cutting into their own wages and benefits they became concerned about politics all of a sudden.'

And I have had some trying to blame the entire thing on Obama too. Even though Obama was only a kid when these same Reaganites were happily riding that Reagan train.

Don