Let me explain what I mean by reminding you of one of the most disturbing news stories to come across the wires in the last month. In a much-reported study, the Russell Sage Foundation discovered that median household wealth in this country fell by 36 percent in the 10-year period ending last year. Wealth for people at the top, as other news stories remind us, has continued to soar. These things are a consequence of the Great Recession, of course, but they are also a reminder of the grand narrative of our time: The lot of average Americans constantly seems to be growing worse. The Great Depression of the 1930s was awful, but it set America on the path toward a period of shared prosperity. Our bout of hard times has had the opposite effect. It has accelerated the unraveling of the middle class itself.
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