Unfortunately more data pointing to the deterioration of the middle class came out this week regarding net worth figures. One of the more ominous data points regarded the sandwich generation of those taking care of college aged kids and parents. The net worth figures this time released by the US Census coincide with the information released by the Federal Reserve. In short, American balance sheets are in a deep panic. Over 90 percent of Americans have been crushed through this recession if we examine net worth data. They have seen their wealth decline from a net worth perspective but also their incomes have fallen. Not the ideal sort of combination for economic prosperity. The information released is troubling but beyond that, it must serve as a push for a panic button to fight for the middle class. Whether people acknowledge or not, the middle class is being lost day by day.
Being crushed in the middle
The Federal Reserve report showed that overall households lost 40 percent of their net worth between 2007 and 2010:
That is a crushing blow. Yet data released from the Fed shows those in the middle, those from 35 to 44 saw a stunning 59 percent hit to their net worth:…
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