The demise of the middle class

MANIFESTO

Bob Reich explains the Great Crash of 2008:

Consumers have gone on strike because their earnings haven't kept up. The recovery that officially ended December, 2007 (the National Bureau of Economic Research now tells us) was the first on record in which median earnings declined, adjusted for inflation ...

The only way to revive Wall Street is to revive Main Street, and the only way to accomplish this is to get America back on the course of rising median incomes.

And the Republicans sat back and didn't care when this was happening, preferring to raise cries of "Class Warfare" when middle and lower classes started protesting over their diminishing standards of living.

Obama is singing the right song, but the economic situation has been so dissonant for so long that even such a hip musician as he may not be able get it back in tune.