Elizabeth Warren
Elizabeth Warren
Elizabeth Ann Warren is an American academic and politician. She is a member of the Democratic Party, and is the senior United States Senator from Massachusetts. Warren was formerly a professor of law, and taught at the University of Texas School of Law, the University of Pennsylvania Law School, and most recently at Harvard Law School. A prominent scholar specializing in bankruptcy law, Warren was among the most cited in the field of commercial law before starting her political career...
NationalityAmerican
ProfessionPolitician
Date of Birth22 June 1949
CityOklahoma City, OK
CountryUnited States of America
The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke.
Pundits talk about 'populist rage' as a way to trivialize the anger and fear coursing through the middle class.
I hear all this, you know, 'Well, this is class warfare, this is whatever.' No. There is nobody in this country who got rich on his own - nobody.
Get out of debt. In a world of stagnant incomes and rising core expenses like mortgage and health care costs, that's a lot easier said than done. The middle class is under enormous pressure. But families can stop the bleeding by reducing their reliance on debt wherever they can. They can also start fighting back by taking a hard look at whom they do business with and rethinking whether they want tricks-and-traps banks to hold their money. They can also demand that public officials take the side of families over the side of banks.
The trickle-down experiment that began in the Reagan years failed America's middle class. Sure, the rich are doing great. Giant corporations are doing great. Lobbyists are doing great. But we need an economy where everyone else who works hard gets a shot at doing great!
A family relying on a teacher's salary or a city employee's salary is solidly middle class as long as that money's coming in. When it's cut off, they're committed to financial obligations that will quickly turn them upside down.
The women who file for bankruptcy played by all the rules, but they are still in economic freefall.
Early 2000s, we get Enron, which tells us the books are dirty. And what is our repeated response? We just keep pulling the threads out of the regulatory fabric.
Every time the U.S. government makes a low-cost loan to someone, it's investing in them.
Raising the minimum wage means we have workers paying more in to support the Social Security system.
Does anyone believe that Goldman Sachs is gonna give up a deal that would yield millions of dollars because someone fussed at them behind closed doors?
You have to remember: what are incomes to banks are outgoes to families.
Everyone would like the world always to be in bubble times. But that doesn't happen.
I believe that the American people ought to be part of the conversation about what's happening in our economy, and what's happening in Washington and what's happening on Wall Street.