EPISODE · Feb 25, 2026 · 18 MIN
You’re “Middle Class” on Paper. So Why Do You Feel Broke?
from The Missing Middle Podcast · host Cara Stern, Mike Moffatt, and Meredith Martin
If $130,000 is the new poverty line… what does that make you?In this episode of Classonomics, we tackle the viral argument that the middle class isn’t struggling — it’s being mismeasured. On paper, incomes are up and unemployment is low. So why does it feel harder than ever to afford a home, raise kids, or even stand still? We break down the hidden costs of economic participation, from housing and childcare to smartphones and “technological coercion”. We also examine the rise of the two-income trap that quietly reset the price of middle-class life. Are millennials truly worse off than their parents? Is inflation data masking reality? And was the 80s and 90s middle class partly a sitcom illusion? If you’ve ever felt “middle class” in theory but squeezed in practice, this episode explains why.Chapters:0:00 – Introduction: Welcome to Classonomics0:39 – Why 90s “Struggling” TV Families Look Wealthy Today02:03 – Is $130k the New Poverty Line?04:52 – Technological Coercion: From Luxury to Necessity09:08 – Why Inflation Stats are Misleading: Better vs. Cheaper11:03 – The Two-Income Trap: From Option to Obligation14:54 – The Nostalgia Gap: Are We Remembering the 80s Correctly?17:20 – The Reality of Generational Downward MobilityResearch links:Part 1: My Life Is a LieHow a Broken Benchmark Quietly Broke Americahttps://www.yesigiveafig.com/p/part-1-my-life-is-a-lieCory Doctorow https://en.wikipedia.org/wiki/Enshittificationhttps://en.wikipedia.org/wiki/Cory_DoctorowHedonic adjustmentshttps://www.npr.org/2022/11/10/1135849519/hedonic-adjustment-how-to-measure-pleasureCredits:Mike Moffatt https://twitter.com/MikePMoffatthttps://bsky.app/profile/mikepmoffatt.bsky.socialHosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinFunded by the Neptis Foundation https://neptis.org/
What this episode covers
If $130,000 is the new poverty line… what does that make you? In this episode of Classonomics, we tackle the viral argument that the middle class isn’t struggling — it’s being mismeasured. On paper, incomes are up and unemployment is low. So why does it feel harder than ever to afford a home, raise kids, or even stand still? We break down the hidden costs of economic participation, from housing and childcare to smartphones and “technological coercion”. We also examine the rise of the two-inco...
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You’re “Middle Class” on Paper. So Why Do You Feel Broke?
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