“There problem is middle class prosperity has dropped off precipitously.”
Perhaps. It would be good to see that in a quality statistical analysis. Looking at my family, my standard of living is higher than my parents, my child’s is higher yet. Some in the family have not done so well. Life decisions.
I guess you mean over a shorter time span. Well, if the middle class has shrunk in the last 8 years or so, the question is why. The economy was rebounding under Bush until the housing/financial crisis hit.
The housing/financial crisis was due to a mostly Democratic party initiative for Fannie Mae and the banks to hand-out mortgages like candy. Community organizer, later Senator, Obama was the most ardent supporter for that idea. Even as President he thinks it’s a good idea.
Between the progressive tax system, the eroding of the nuclear family structure and manufacturing jobs shipped overseas, I would say the future of the middle class looks grim.