Their claim of declining economic security isn't supported by the facts presented. Is it unusual that 4 out of 5 people faced economic insecurity at some point in their lives? I doubt it.
The poverty level is at 15% and falling. Since 1959 it has been above 11% and has been as high as 15% on a regular basis.
The middle class is shrinking, but they appear to be going to the upper class (defined as family income > $75,000), not declining into the lower class. This is probably partly due to demographics, the population has grown relatively older and more wealthy. Meanwhile, the proportion of families in the lower class category (< $25,000 family income) has not changed.
Pretty much in spite of government policy the economy is slowly improving.