``A large and strong middle class has long been a cornerstone of America's economic health. Most people once did well enough to maintain an acceptable standard of living, and most had a chance to do better than their parents. That undergirded our quality of life and made the United States the envy of many countries.

It's all vanishing. If we stay on this trajectory, a majority of residents will not be middle class. (As defined by Pew, the middle class is a household that makes between 67 percent and 200 percent of the national median income.)''

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