Middle Class Families from 1970-2005
John Hunter, Elizabeth Warren
Webcasts of speech by Elizabeth Warren. Interesting data. Looking at standard family (Mom, Dad and 2 kids from 1970 to 2005), in inflation adjusted dollars: earnings increased a great deal (due to women working much more) but disposable income decreased. This is because basic expenses increased: health care, housing, transportationâ€¦ (and this is with assuming employer provided health care â€“ which has really been decreasing in likelihood over time). Those families are also more deeply in debt and reliant on 2 incomes. And if either income producer losses their jobs the economics of the family fail. Which means the family is much more at risk.
Charlie Rose Conversation with Elizabeth Warren
"If your worldview is that itâ€™s all about that handful of banks
on Mount Olympus, then you have a different notion of what the problem is
and you have a different notion of what the solution is. If your worldview
is about 117 million American families, households, and you understand the
kinds of pressures they are under and the problems facing them, you have a
very different vision of where we need to concentrate our resources and
where we need to start solving the problem."