One of the major criticisms of Democrats before last year’s election was they kept talking about how low unemployment was, how wages were rising, inflation was falling and a bevy of other numbers showing an economy firing on all thrusters. And while most of that was true, the reality for many lower-income Americans was they were nevertheless struggling to make ends meet.
Fast forward a year, and unemployment is rising, wages are stagnating and inflation has hit 3%. At the same time, the Wall Street obsession with a handful of technology stocks has catapulted markets to new heights, making the disconnect with the rest of the country more pronounced. In 2025, it’s not just low-income America that’s in trouble: now it’s the middle class, too.