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April 11, 2008
Posted: 05:20 PM ET
(PHOTO CREDIT: GETTY IMAGES) FROM CNN's Jack Cafferty: A new survey out paints a pretty bleak picture of middle class America today, which is no surprise when you take into account falling house values, increased costs for food, energy, health care, education and growing unemployment. The Pew Poll finds that 54% of those who describe themselves as "middle class" – which is more than half of this country – say they are no better off than they were 5 years ago. That's the worse outlook in more than 40 years. 53% say they've had to cut spending because money is tight. 18% say they've had troubling getting or paying for medical care, and 10% say they've lost their jobs. And, the view for the future isn't much better. In the coming year, half of the middle class surveyed say they think they'll have to cut more spending. 25% of those employed are worried they'll be laid off, and 26% are concerned their salary or health benefits will be cut. When asked who's to blame for their economic problems, 26% say it's the government's fault, 15% blame the price of oil and 11% say the people themselves are responsible. Meanwhile, don't look for positive economic news on the horizon. The majority of economists polled by The Wall Street Journal say the U.S. economy has farther to fall. By a 3-to-1 ratio, they say our economy is in a recession, and almost three-quarters say we haven't hit the bottom yet. Here’s my question to you: Who's to blame for an increasingly discouraged middle class? Interested to know which ones made it on air?
Bert from Oak View, California writes: Terry from California writes: N. writes: Jen from Pennsylvania writes: Okey writes: Filed under: Economy Uncategorized
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Jack Cafferty sounds off hourly on the Situation Room on the stories crossing his radar. Now, you can check in with Jack online to see what he's thinking and weigh in with your own comments online and on TV. Send your comments on the "Cafferty File". Jack's Book
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