More or less, as the US's exporting capacity diminished a flood of imported goods hit the US, this drives down wages for every demographic outside of the top 20% or so, when coupled with rising prices for industries that do not face that same level of competition (unfair or not competition) such as Insurance and Higher education and the middle and lower class squeeze has been on for quite sometime. Those rising costs mean graduates from College or even High school face a situation wherein they either graduate with a sizable debt then try to find employment with an industry with declining wages, or look squarely at taking on a mountain of debt to attend University then hope a well paying job can be landed. Meanwhile, the very upper echelon has grown fabously wealthy via investing in Globalism as well as seeing their tax liabilities reduced. That is a double edged sword as they also form capital to begin enterprises, but since spending was not reduced that formation comes at the cost of massive debt and deficits. Literally, it is a race to the bottom with the participants having the debt to pay for the race thrust upon them, no matter if "left" or "right" is in power.
