Middle-class people who have been caught in that crunch have had their purchasing power greatly diminished. New car? You can’t pay for a $100,000-a-year- lifestyle on a $25,000 or $35,000 salary. Others may not identify with this plight because they still live at home and don’t have mortgages or college tuition.
You can see it in the economy already. It’s happening at GM and Ford as they’re not selling to as large a market any more. People who were making decent money are now trying to get into any job they can find.



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