NewsHour economics correspondent Paul Solman reports on the on the widening gap amongst many Americans despite signs that the economy is improving. While the stock market and corporate profits are increasing, many middle and working class Americans are still feeling the stress and pressure of the recession. Economic inequality in America, widening steadily since 1980, grew during the financial crisis, with the top 5 percent of Americans owning 65 percent of national wealth by mid-2009, up from 62 percent two years before. The losers were the bottom 80 percent, whose share of wealth fell during the crisis. Nearly half had negative net worth by mid-2009. Despite being more educated than the generation before them, many Americans are struggling to support their families and themselves. Widening inequality is one problem, with the top 10 percent of American families, those at $109,000 a year or more, now earning half of all American income. But at least historically, there was always the very real hope of moving up, at least across generations. Unfortunately, the hope of moving up within some generations seems like a lost cause. Quotes "They don't get what is happening to this country. And I feel like we're creating a Third World country subculture within this country." Denise Barrant "As a parent, you want your children to succeed and do better than you have. And, yet, I find mine working to please me and -- or to help me. And that's just not the way I wanted it. That's not the way anyone wants it for their family." Cookie Sheers "America is distinct in the extent to which inequality is inherited from generation to generation. The kids of rich parents have a strong tendency to be rich, and the kids of poor parents are very, very likely to be poor. That's one of the things which I think Americans find most shocking. That's a huge discrepancy from what we think of as the land of opportunity." Samuel Bowles, Santa Fe Institute Warm Up Questions 1.What is a recession? 2.Define inequality. 3.Discuss what you know about the economy. Discussion Questions 1.Why do you think there is a widening gap amongst America’s wealthiest and poorest citizens? 2.What do you think can be done to close the inequality gap in America? 3.Discuss your future career aspirations. Do you think you’ll need formal education or training to achieve your goals? Why or why not? Additional Resources Video transcript Download this Video