Paul Krugman: Redefining The Middle Class

Economist Paul Krugman writes "A lot of Americans - quite arguably a majority - just don't have the prerequisites for middle-class life as we've always understood it."  In his recent article,  Redefining The Middle Class, he argues that the US middle class is much smaller than most believe.   He also argue that is problematic to classify such a large percentage of the population as middle class.   In one Pew Research Survey from 2008, 91% of the respondents classify themselves as upper middle class, middle class or lower middle class.