Excellent article about how economic reality on the ground of everyday life for most Americans contradicts the economic
See succinct article in Buzzflash http://www.truth-out.org/buzzflash/commentary/trickle-down-economics-and-climate-deniers-face-an-insurmountable-challenge-reality
This is not debatable data: it is reality, like seeing rain gushing from the sky as proof that the sun is not shining. You can spin this reality, as The Wall Street Journal and The Financial Times - among other pro-Wall Street media - do but you cannot deny the facts of what is occurring. The US has two economies: a soaring stock market and wealth for the plutocracy, and a declining standard of living, lower pay, increasing debt and long-term joblessness for the rest of the United States.This disparate reality breeds anxiety and fear in the ordinary person, who recognizes the inherent instability of their lives, families and communities, but doesn't fully understand the source of that instability.
Media messages, from advertising to pundits to pulpits, send a message that nothing is wrong with the basic system of industrial capitalism, it is merely the presence of some out-group - socialists, immigrants (legal and illegal), "takers" (translate: "people different from me"), non-Christians (especially Muslims), and the poor in general - who need to be eliminated, controlled, sent home, or simply disenfranchised so that capitalism can get back to doing what it was designed to do. The problem however, is that capitalism was always designed to increase capital. It was never designed to create jobs or build communities.
Update: June 2014
An excellent AlterNet article http://www.alternet.org/economy/overwhelming-evidence-half-america-or-near-poverty provides links to sound research and statistical data that show that half of all Americans - yes, HALF! - meet the criteria for being "low income;" almost half of American's have zero (zilch) wealth; half of Americans lack the resources to survive even three months without income.