July 18, 2019

Can Trump Save the Middle Class?

“In his State of the Union address last week, President Trump vowed the country can make its middle class “bigger and more prosperous than ever before.”

Despite economists’ longstanding laments of a shrinking, “hollowed-out” middle class, Trump’s pledge didn’t seem so quixotic, at least judging by recent history. The vibrant economy, juiced further by the Trump-led tax cuts and federal spending increases, has lifted employment and wages for workers at all levels, including the middle class. The manufacturing, construction and oil industries – traditional middle-class bastions – have enjoyed revivals the past couple of years. And the replacement of many middle-wage workers with technology has slowed.

Yet analysts say America’s middle class will soon resume its long-term decline, largely as a result of automation and the continued offshoring of factory jobs, unless policymakers take dramatic steps to alter that course.”

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