America's middle class is no longer the majority

The nation's middle class is no longer the majority of the adult population.

A Pew Research Center report released yesterday indicated the middle class represents just below 50 percent of the population this year. Since it was 61 percent in 1971, it has steadily declined since.

Pew defines middle class households as those earning two-thirds to twice the overall median income.

Read more from The Los Angeles Times.