The American Middle Class as Victim

Sen. Elizabeth Warren in the spin room after the Democratic presidential candidates debate in Los Angeles, Calif., December 19, 2019. (Kyle Grillot/Reuters)
Elizabeth Warren’s moralistic tales don’t help create effective economic policies.

NRPLUS MEMBER ARTICLE S enator Elizabeth Warren, foundering in the Democratic primary, is returning to the theme that made her famous: her moralizing account of personal bankruptcy.

As an academic, Warren did research on personal bankruptcy in the United States. “Our research ended up showing that most of these families weren’t reckless or irresponsible,” she writes, “they were just getting squeezed by an economy that forced them to take on more debt and more risk to cling to their place in America’s middle class.” That is a peculiar claim. Borrowing money that you cannot repay in order to finance personal consumption that you cannot afford

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