What The Fact: America's Shrinking Middle Class

The video features Erin and Katie from PolitiFact discussing a claim made by Joe Biden about the middle class during a Democratic event in Iowa. They explore the shrinking size of the middle class, factors affecting it, and conduct a fact check on Biden's statement. The analysis reveals that while the U.S. middle class is no longer the wealthiest, the claim needs clarification regarding income versus wealth. The video concludes with insights into economic challenges and potential solutions.

What event did Erin and Katie attend to gather information for fact-checking?

• A political debate

• A press conference

• A town hall meeting

• The Polk County Democrats annual steak fry

According to the transcript, what has happened to the size of the middle class in the U.S. since 1971?

• It has fluctuated without a clear trend

• It has decreased

• It has remained the same

• It has increased significantly

What is one of the main reasons for the shrinking middle class in the U.S.?

• Stable housing prices

• Decreasing healthcare costs

• Increasing wage growth for all income levels

• Rising costs of everyday needs

Which countries have surpassed the U.S. in terms of median income according to the studies mentioned?

• Luxembourg and Norway

• Australia and New Zealand

• Germany and France

• Japan and South Korea

What clarification is made about Joe Biden's statement regarding the middle class?

• He was discussing tax rates

• He was referring to wealth, not income

• He was referring to income, not wealth

• He was talking about global poverty