The Middle-Class Squeeze

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9 pages
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Brief Executive Summary
The Special Investigations Division of the House Committee on Oversight and Government Reform highlights the economic challenges facing middle-class families during President Bush's tenure, noting declines in real incomes alongside rising costs for essential expenses like health insurance, energy, and education. For the median family, real annual incomes have fallen by 2.7%, while costs for health insurance, gasoline, and college education have surged by 48%, 57%, and 39%, respectively. This combination of declining incomes and increasing expenses has resulted in a significant squeeze on the middle class, with real expenses outpacing income growth, leading to a decrease in the standard of living.
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