Elizabeth Warren on, “The Death of the Middle Class”
Elizabeth Warren comments,
“The reality is that there is a much bigger problem that has been going on for an entire generation. And that’s the combination that has really punched the Middle Class. Basically, it’s about flat wages [and the] rising core expenses. Expenses for housing, health care, child care, and transportation. The expenses we can’t get along without, and a credit industry that has just about picked their bones clean… We now have a Middle Class that has stopped saving, that is deeply in debt, and that is really pressed up against the wall. We are at serious risk in America of having Middle Class no longer synonymous with the old notions of [secure] and solid. But instead, meaning living one paycheck to the next, living one bad diagnosis or pink slip away from financial collapse. This is a profound shift in America and it’s something we really have to start paying attention to.”
