Update: My apologies. I cited the wrong Census data table when describing my definition of the middle class. A corrected version is below.
By almost every measure, 2011 was a lost year for the American middle class. Who is to blame depends on your political view. What follows is an attempt to sum up the major developments and missed opportunities of the year gone by. For me, the following areas represent the most serious perils facing middle class Americans.
On Tuesday, Barack Obama declared the debate over how to restore growth, balance, and fairness to the American economy the “defining issue of our time.”