Mention the ever-widening wealth gap in America and chances are most of the focus will be on the grown-ups.
Their 401(k)s were pummeled during the recession, their earnings plummeted, and even a college degree couldn't guarantee them a job in shaky economic times.
But what about the children?
Under the radar, study after study has shown just how the growing wealth gap could stymie upward mobility for America's youth. In a telling report by Washington, D.C.-based think tank, The Hamilton Project, a team of researchers uncover economic data that show exactly how income inequality can impact social mobility in America.
"It is too early to say for certain whether the rise in income inequality over the past few decades has caused a fall in social mobility of the poor and those in the middle class," the authors write. "The first generation of Americans to grow up under this inequality is, on average, in high school—but the early signs are troubling."
Family incomes have declined for a third of American children over the past few decades.
And forget what you heard about the American Dream. "In fact, in terms of both income inequality and social mobility, the United States is in the middle of the pack when compared to other nations, most of which are democratic countries with market economies," the authors write.
The reality is that it's even tougher for poor children to make up for their parents' lost ground. A child born to parents with income in the lowest quintile is more than 10 times likelier to end up in the lowest quintile than the highest as an adult (43% vs. 4%).
See the rest of the story at Business Insider