Between 1989 and 2004, the net worth of the average American family increased by 35 percent, but household debt more than doubled as more families used debt to finance day-to-day expenses. Over the same period, the country has been enriched by rising productivity, but stagnating wages mean the average worker isn't reaping the benefits.
SOURCE: Survey of Consumer Finances, Bureau of Labor Statistics, U.S. Census Bureau, Bureau of Economic Analysis | The Washington Post - February 28, 2008
An Upside for the Middle Class Article | Sen. Hillary Rodham Clinton declares, "The economy is not working for middle-class and working families," noting the typical American family earns less now than it did seven years ago. Citing the same trend, her Democratic presidential rival, Sen. Barack Obama, promises "to put America back on th...