Well, I’m “middle class” and doing well. In the past 4 years, my income has gone from X to 2.7X. I’ve gotten married, bought a house and a new car (payments). Paid off my student loans (~15K) and have NO credit card or other revolving debt.
It is true that the monthly budget is tight, in that I have to account for every dime that goes out. Even though, I make sure to sock away retirement savings, some college savings for my wife’s kid, and general savings. We just took a week’s beach vacation.
My wife works from time to time. She quit her most recent job (working in an insurance office) in June to spend the summer with her son who was here for visitation. Just today, she went to her first job interview and was hired on the spot, stepping up pretty well in salary. (I was envisioning a months-long job search for her).
Sure, when my wife works, it means lots more savings and a little more free spending. But we can get by on one salary if we stick to the budget I’ve prepared.
Most of the people I know and hang with are from my office and community, so their stories are almost identical to mine. Everyone (at least to my knowledge) is doing well. Those that bought and sold houses in the last 5 years, have done even that much better.
My sister and brother-in-law live in suburban St. Louis and are doing very well also. He’s a CPA and she stays at home with the three kids.
Now, just because the recession doesn’t exist in my little world doesn’t mean I question it for others. Some of the situations on this thread are very difficult, indeed.