Rick Allen: “one of the points that Elizabeth Warren makes in this book, ``The Two-Income Trap. Why Middle-class Parents Are Going…”

“one of the points that Elizabeth Warren makes in this book, ``The Two-Income Trap. Why Middle-class Parents Are Going Broke,'' is that often it takes two incomes in order to be able to buy a home. But once you have bought the home and you have signed the mortgage, that is a fixed expense. You cannot get out of it. It is not discretionary income. It is not like cutting back on food, skipping going out to a restaurant once in a while. These expenses have become the most important expenses. And the reason why middle-income families today have less discretionary income than middle-income families 20 years ago is because their money is all tied up in fixed expenses. It may be a car payment; it often is a house payment. One has got to have health insurance. Those costs are there. And we need a President and we need a Congress that will focus on the real world, not some dream world which does not take account of what is going on in the lives of middle-income Americans.”