"In some fundamental ways, the American economy has stopped working.
The fact that the economy grows - that it produces more goods and services one year than it did in the previous one - no longer ensures that most families will benefit from its growth. For the first time on record, an economic expansion seems to have ended without family income having risen substantially. Most families are still making less, after accounting for inflation, than they were in 2000. For these workers, roughly the bottom 60 percent of the income ladder, economic growth has become a theoretical concept rather than the wellspring of better medical care, a new car, a nicer house - a better life than their parents had."
Read the full NYT article...
(warning!... the article itself is long and rather difficult to read)