by Michael Snyder
End of the American Dream
Do you remember the days when it seemed like almost everyone in America was middle class? Unfortunately, those days are long gone and the grinding down of the middle class in the United States appears to be accelerating. According to a brand new study that was just released by Pew Charitable Trusts, household spending increased by 14 percent between 2004 and 2014, but median household income decreased by 13 percent during that same time period. Both of those figures were adjusted for inflation. What this means is that the cost of living has steadily gone up, but our incomes have gone down. In fact, as you will see below approximately one-third of all Americans don’t even make enough money to pay for the basic necessities at this point.