Category Archives: Middle Class

Recent Financial Market Disruptions: Implications for the Economy and American Families

Source: Brookings Institution, Hamilton Project Roundtable, September 26, 2007

In recent months, problems with subprime mortgages have spilled over to the housing sector and financial markets more generally. These events have created widespread concerns about the hardships facing homeowners and potential risks to the overall economy. They have also raised near-term questions about how to best address economic risk, and provoked longer-term questions about the adequacy of current regulations and consumer protections.

On September 26th, The Hamilton Project at The Brookings Institution will convene a roundtable discussion with experts to help frame the challenges currently facing housing and the financial markets- where we are, what it means for the U.S. economy, possible next steps for recovery, and ways to minimize future problems.

Economic Anxiety Rises for Middle Class

Source: NPR Morning Edition, September 7, 2007
(audio)

New research on the middle class shows economic anxiety is rising. The economy as a whole may be doing well but personal finances are suffering. Seven out of 10 Americans report living paycheck to paycheck, meaning there never seems to be enough left over for savings. Shira Boss, author of Green With Envy: A Whole New Way to Look at Financial (Un)Happiness, speaks with Renee Montagne.

Pathways to the Middle Class: Ensuring Greater Upward Mobility for All Americans

Source: Hugh Price, Amy Liu, Rebecca Sohmer, Brookings Institution, Opportunity 08, August 2007

Middle-class prosperity is the cornerstone of the American Dream. Americans believe that through hard work and education families can enter the middle class and keep on climbing. However, recent evidence shows that, even with a rebounding U.S. economy, working and middle-class families are struggling more than in decades past, and upward economic mobility may not be continuing, even for those who work hard and play by society’s rules. Moreover, the road to middle-class prosperity is even rockier for minorities. Several time-honored pathways that lead to the middle class are postsecondary education, good jobs, living in viable neighborhoods, personal financial prudence, and entrepreneurship. This paper focuses on all but the last of these pathways of opportunity.

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