If you've been around long enough to be familiar with the Los Angeles Times, you know by the time they get around to printing the news it's old news.
The latest example is this recent piece about the disappearing, sunken middle class. There are lots of groups who eschew anecdotal evidence: economists, doctors, MSM, to name a few. But this story is another example of a condition many knew happened not just recently but several years ago.
The only people this is new to is the press.
The nation's middle class, long a pillar of the U.S. economy and foundation of the American dream, has shrunk to the point where it no longer constitutes the majority of the adult population, according to a new major study.
The Pew Research Center report released Wednesday put in sharp relief the nation's increasing income divide, which is certain to be a central issue in the 2016 presidential race. It also highlights how various economic and demographic forces have eroded long-held ideals about maintaining a strong, majority middle class.
Many analysts and policymakers regard the shift as worrisome for economic and social stability. Middle-income households have been the bedrock of consumer spending, and many liberals in particular view the declining middle as part of a troubling trend of skewed income gains among the nation's richest families. More:
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