A discussion of Elizabeth Warren's book, "The Two-Income Trap" and her views on why Americans are finding themselves with ever-increasing debts.
Written in 2009; 819 words; 2 sources; MLA; $ 29.95
Paper Summary:
This paper discusses the ever-increasing amounts of debt that Americans are finding themselves in. The paper bases its discussion on Elizabeth Warren's book, "The Two-Income Trap." It discusses the content of the book and Warren's view of why two-income families are finding themselves in more debt than when they were a one-income family.
From the Paper:
"Warren does not blame spendthrift families or selfish women, it should be noted. Warren believes that requiring more stringent standards to obtain mortgages of any kind is essential, so couples do not take on more debt than they can handle. She also advises against such tempting schemes as refinancing a home to pay for luxuries or even living expenses. Warren calls for Congress to regulate credit card companies and the amounts of debt that they charge, so consumers will not be tempted to take on more credit card debt than is wise. Warren would likely support the greater scrutiny of the financial industry Congress is currently considering, to prevent the current debacle facing lending companies such as Freddie Mac and Fannie Mae. These entities are to some extend culpable in facilitating the overspending Warren describes, and the driving up of the market price of homes."
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