The Fall of ‘Trickle-Down’ and the Rise of ‘Middle-Out’ Economics

A year ago, President Obama gave a speech in Osawatomie, Kansas where he laid out a vision of how the economy grows. This vision proved a successful way to connect with voters during the campaign. Now, as Congress debates whether to push the U.S. economy over the so-called fiscal cliff and policymakers consider far-reaching changes to our nation’s tax code and entitlement, this is the time to reflect on the economic reality behind Obama’s middle-out economics.

This article was originally published in The Atlantic.