NEW YORK (Sputnik) — The American middle class is shrinking compared to other countries and no longer represents the most well-off middle class in the world, US Vice President Joe Biden said during a speech in New York City.
"The [US] middle class is getting clobbered… for the first time in the last hundred years the United States does not have the wealthiest middle class in the world," Biden said on Friday. "That's got to change."
The vice president visited New York to promote state legislation approving paid family leave, a law that Biden believes would contribute to increasing the US middle class along with raising the minimum wage and instituting wage equality.
According to an October 2015 report released by Credit Suisse Bank, China's middle-class, estimated to include 109 million adults, has surpassed the US middle-class and became the largest in the world.
