Perhaps the most striking difference between the middle class of 50 years ago and the middle class today is a loss of confidence – the confidence that you were doing better than your parents and that your children would do better than you.
President Joe Biden’s multitrillion-dollar suite of economic proposals is aiming to both reinforce and rebuild an American middle class that feels it has been standing on shifting ground. And it comes with an explicit message that the private sector alone cannot deliver on that dream and that the government has a central part to play.
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