Is this the end of the American Dream?
Many have lived beyond their incomes simply because incomes have been outstripped by the costs of middle-class life. By the fall of 2008, most American workers were bringing home roughly the same weekly wages they had earned in 1983, after accounting for inflation.
So with the current social engineering our system provides, we can’t all live “middle class lives” because what is now considered middle class is actually quite upper class. The end result of the degree of income inequality in this country is that middle class is the old upper class, and the old upper class is something newer and far wealthier than anything since the days of the “robber barrons” at the turn of the century