From The Atlantic:
In all, the survey suggests that after years of economic turmoil, most families now believe the most valuable–and elusive–possession in American life isn’t any tangible acquisition, such as a house or a car, but rather economic security. Asked to define what it means to be middle class, a solid 54 percent majority of respondents picked “having the ability to keep up with expenses and hold a steady job while not falling behind or taking on too much debt”; a smaller percentage defined it in terms of getting ahead and accumulating savings. “It seems like that class of the people just live from paycheck to paycheck,” said Dale High, a trucker from near Idaho Falls, Idaho, who responded to the poll. “Everything is going up, but wages are staying the same. And people can’t live like that.”
The backdrop for these sober assessments is a darkening of the national mood since President Obama won reelection. The share of Americans who say the country is on the right track reached a four-year high of 41 percent in the Heartland Monitor survey conducted just after his victory in November. But that optimism plummeted in the latest survey to less than three in 10. The number of people who expect the economy to improve over the next year also skidded.