Shrinking Middle Class in America

The middle class in America has been shrinking over the past 50 years, leading to a growing wealth gap between income tiers. The share of Americans in middle-class households dropped from 61% in 1971 to 51% in 2023, while the share of upper-income households rose from 11% to 19% in the same period.

Wealth Disparity and Perception

A-list actress Cate Blanchett claims to be middle class despite being worth an estimated $95 million, leading to backlash and ridicule on social media.

Cate Blanchett's Comments at Cannes Film Festival

Actress Cate Blanchett faces backlash after labeling herself 'middle class' and discussing the global refugee crisis at the Cannes Film Festival.

Impact of Economic Slump on China's Middle Class

The economic slump in China is impacting the middle class, leading to financial concerns, job insecurity, and a shift towards saving money and prioritizing value over luxury. President Xi Jinping is focusing on national security over the economy, causing anxiety among the public.

President Biden's Budget and Fiscal Responsibility

White House Office of Management and Budget Shalanda Young discusses President Joe Biden's budget, emphasizing fiscal responsibility and the prioritization of the middle class and working families over the wealthiest in the country.