The “Middle Precariats,” as Quart terms them, are suffering death by a thousand degradations. Their new reality: You will not do as well as your parents. Life is a struggle to keep up. Even if you achieve something, you will live in fear of losing it. America is not your land: it belongs to the ultra-rich.
Source: America’s White Collar Middle Class Takes a Terrifying Slide Down the Mobility Ladder
precariat | prəˈkɛriət |
noun [treated as singular or plural] (the precariat) Βritish
people whose employment and income are insecure, especially when considered as a class: most of those in the precariat are just trying to create a meaningful life for themselves | the diminishing prospects of the modern precariat | [as modifier] : a disenfranchised generation of precariat youth.