The Two-Income Trap Why Middle-Class Parents Are (Still) Going Broke

Elizabeth Warren ... wrote a wonderful book on this called The Two-Income Trap.

The Two-Income Trap, which is a book she published in 2004 back when she was an academic, it tilted the axis of the Washington economic debate.

If I go back to the two-income trap, one of your earlier books, you were very worried in that book about universal preschool creating a preference to send children to preschool as opposed to being a stay-at-home parent.

Elizabeth Warren is a whack job. However, she wrote a book that was very, very interesting before she became a senator. And it was called the Two Income Trap.

I encourage you guys to read it. This was done 20 years ago. Okay, this back when she actually would do serious scholarship where she said it's bad for America to force both the mom and the dad into the workplace.

It's one of the most powerful books you can read.

Elizabeth Warren, you know, the senator, she used to be a rather interesting law professor at Harvard Law School. She wrote a book called The Two-Income Trap, in which she explicitly opposed universal child and family care because she said what this does is it essentially creates a disincentive for women to stay home and take care of their kids if they want to do so.

It forces family into what she called a two-income trap, driving up the price of goods and services by requiring that both parents work as opposed to one staying home.

Also as people like Elizabeth Warren used to suggest right she wrote a book called the two-income trap back when she was actually an interesting politician in the early 2000s.

And because the agency tangles with a lot of powerful wealthy interests, it was intentionally designed to be insulated from day-to-day political pressure so it could not just be captured by partisans or industry allies or quietly defunded and zombified. Specifically, rather than being subject to the yearly appropriations process, the agency is funded through the Federal Reserve, which provides funds up to a set cap of $600 million a year. This funding structure is now being used to try to attack and destroy the agency by its specifically the aforementioned ghouls in the payday loan industry.