It’s hurting the U.S. economy.

AP Survey: US Income Gap Is Holding Back Economy WASHINGTON December 17, 2013 (AP) By CHRISTOPHER S. RUGABER AP Economics Writer Associated Press

The growing gap between the richest Americans and everyone else isn’t bad just for individuals.

It’s hurting the U.S. economy.

Income inequality has steadily worsened in recent decades, according to government data and academic studies. The most recent census figures show that the average income for the wealthiest 5 percent of U.S. households, adjusted for inflation, has surged 17 percent in the past 20 years. By contrast, average income for the middle 20 percent of households has risen less than 5 percent.

http://abcnews.go.com/US/wireStory/ap-survey-us-income-gap-holding-back-economy-21250565

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FILE – In this Friday, March 29, 2013, file photo, a homeless man pushes a shopping cart full of his belongings across an intersection in the Skid Row area of Los Angeles. The growing gap between the richest Americans and everyone else isn’t bad just for individuals, it’s hurting the U.S. economy says a majority of more than three dozen economists surveyed in December 2013 by The Associated Press. (AP Photo/Jae C. Hon, File)(Credit: AP)

AP Economy Survey 1

FILE – In this Wednesday, Nov. 20, 2013, file photo, a destitute man sleeps on the sidewalk under a holiday window at Blanc de Chine, in New York The growing gap between the richest Americans and everyone else isn’t bad just for individuals it’s hurting the U.S. economy says a majority of more than three dozen economists surveyed in December 2013 by The Associated Press. (AP Photo/Mark Lennihan, File)

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http://youtu.be/m_edzO-PotE

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