The middle class is declining, along with its earnings, wealth and optimism.
"It's not just that there are fewer people here," said study co-author Paul Taylor, director of Pew's Social & Demographic Trends project. "They have a declining share of the national household income."
And despite being targeted by both Presidential campaigns, neither President Obama nor challenger Mitt Romney “has sealed the deal with middle-class adults,” Pew says. Obama is in better shape, with 52 percent of the self-described middle-class saying Obama's policies would help them, compared to 42 percent for Romney.
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