Roaring '90s Didn't Leave Middle Class With Much Cushion

During the roaring '90s, the average U.S. household didn't rack up the big financial gains one might have expected.

Though wealthier families did well over the past decade, those in the middle class watched their net worth stagnate, according to Edward Wolff, an economics professor at New York University. As a result, many Americans are at financial risk as the economy continues to weaken.

"Financial liquidity allows families to weather sharp drops in income caused by job loss, divorce or illness," wrote Wolff in a recent study. "The failure of a large portion of the population to accumulate any meaningful savings thus increases the fragility of the middle class."

Salaries and Household Wealth Grew Slowly in the '90s

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