The middle class actually is shrinking but not for the reasons the Obamedia wants you to believe. Let’s look at the three standard income groups: the poor, the middle class and the wealthy. The number of poor people in the U.S. has shrunk. The number of middle class people has also decreased. The number of wealthy people has increased.
If the number of poor Americans shrinks, there’s only one direction for them to have moved – up. If the number of middle class Americans shrinks, while it is possible that the reduction occurred because of back sliding into poverty, the fact that the number poor people has also shrunk indicates that’s not the case. Since the number of wealthy people has, in fact, increased it is much safer to say that the decrease in the middle class has come because many people in the middle class have graduated upwards into wealth.