The idea of the American middle class is no longer the same as it once was.

The idea of the American middle class is no longer the same as it once was.
The idea of the American middle class is no longer the same as it once was.
  • Over the past decade and a half, the assumptions and expectations associated with being middle class have been dismantled.
  • Experts and some middle-income households believe that the absence of supporting policies may be the cause.
  • Chantal Jacob, a suburban Texas middle-income parent, stated that there is no policy to aid individuals and no assistance whatsoever is available.

The American dream, once associated with the middle class's financial security and prospects for a better future, no longer holds true.

Alissa Quart, author of 'Squeezed: Why Our Families Can't Afford America,' stated that while it was once a secure category to be a middle-class person, certain assumptions around this social class have been shattered over the past decade and a half.

Some experts and middle-income households believe that the lack of supporting policies may be the cause of the drastic changes.

According to Chantal Jacob, a suburban Texas middle-income parent, there is no help whatsoever as there is no policy in place to assist people. She feels that as soon as one gets a job, they are told that it's all they need and that they should go forth and have at it.

Lawrence Mishel, a distinguished fellow at the Economic Policy Institute, agrees that the economy did not improve for the majority due to policy decisions.

The Biden administration has been advocating for various bills to support middle-income households, such as the $1 trillion bipartisan infrastructure legislation passed in November 2021 and the Build Back Better Act currently stuck in Congress. However, experts suggest that these measures may not be sufficient to safeguard the middle class from economic difficulties both now and in the future.

Jacob stated that his friends who were facing difficulties were still struggling. He added that he was still trying to manage his budget down to every dollar in order to achieve his goals. Despite the changes happening, he felt that the effects were not being felt quickly enough.

Discover why the middle class is feeling squeezed in America by watching the video.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

by Juhohn Lee

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