News Summary

• The American Enterprise Institute released a report on the state of the U.S. middle class.
• David Frum says the report has merit, but it misses something fundamental about why Americans feel the way they do.
• He says a nation that has grown so wealthy, so fast, that it has lost the ability to recognize its own prosperity.
• Frum: The AEI’s definition of the “upper-middle class’ may be indefinitely renting and carrying six-figure debt.