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Biden: US Middle Class Not Wealthiest Globally for First Time in 100 Years

© Sputnik / Sergei Guneyev / Go to the photo bankUS Vice President Joe Biden
US Vice President Joe Biden - Sputnik International
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US Vice President Joe Biden claims that the American middle class is shrinking compared to other countries and no longer represents the most well-off middle class in the world.

In this Sept. 5, 2012, file photo, delegates watch as former President Bill Clinton addresses the Democratic National Convention in Charlotte, N.C. Since 2008, the number of people who call themselves middle class has fallen by a fifth, according to a survey in January 2014 by the Pew Research Center, from 53 percent to 44 percent. - Sputnik International
Gone With the American Dream: US Middle Class Now a Minority
NEW YORK (Sputnik) — The American middle class is shrinking compared to other countries and no longer represents the most well-off middle class in the world, US Vice President Joe Biden said during a speech in New York City.

"The [US] middle class is getting clobbered… for the first time in the last hundred years the United States does not have the wealthiest middle class in the world," Biden said on Friday. "That's got to change."

The vice president visited New York to promote state legislation approving paid family leave, a law that Biden believes would contribute to increasing the US middle class along with raising the minimum wage and instituting wage equality.

According to an October 2015 report released by Credit Suisse Bank, China's middle-class, estimated to include 109 million adults, has surpassed the US middle-class and became the largest in the world.

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