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U.S. Economy in the Midst of a ‘Lost Decade?’

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  • Description

    FBN’s Gerri Willis on the state of the U.S. economy.

  • Duration 2:30
  • Date

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We talk a lot on the show about a lost decade for the American economy you've heard me talk about it similar to Japan's lost decade in the 1990s.

But what we don't hear enough about is how America's lost decade.

Is impacting the middle class a new report just out from the Pew Research Center puts -- in pretty stark perspective.

For the middle income Americans the American lost decade of the two thousands.

Has been even worse for wealth loss then for -- income loss what do we mean by that well during the decade.

Median incomes fell by 5% overall.

The median -- -- did peak and fall but it was essentially unchanged over the decade but median wealth that's assets minus debt and you -- think that housing market for this.

It declined by a much greater margin 28% you can see right here this fall -- right here.

Now taking a look at the actual numbers at the beginning of the decade.

Welcome rose from just over 129000.

To nearly a 150 the year 3000 by mid decade and then fell to just over 9302010.

And during this time upper income rose 1% to nearly 575000.

Dollars in -- when he ten.

But the median wealth in the lower income groups suffering the most it plunged by 45% during the decade.

From over 181000 dollars and no one to about 101000.

In 201045%.

Also this is the first time in generations of median family income -- average but the mean.

Declined for all Americans in all income categories that's according to the study.

85% of middle class Americans that's just about everybody say it's more difficult now than a decade ago to maintain their standard of living.

And these grim statistics are hurting the American spirit.

Only 43% of middle class Americans according to the survey say things will get better by comparison more than half thought so -- LA.

And that's when we were in the depths of the Great Recession.

-- Americans are the most optimistic about the future more than two thirds are hopeful about the country's fiscal future.

So little to blame for all that's according to -- everybody share some of the blame but here's who they really don't like about it 62% say it's congress' fault.

54 say it's Wall Street large companies 47.

The Bush Administration 44 and don't forget the Obama administration as well.

With the Romney and Obama campaigns aggressively trying to when the middle class -- they should focus on policies that -- wealth create jobs lift the lifeboats that everybody in this country.

America needs to be the land of opportunity.

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