Professor Warren and the ‘Two-Income Trap’

Does a two-income family have a harder time making ends meet than a single-income family did a generation ago? According to a new book by Harvard Law School Professor Elizabeth Warren the answer is, “yes.” In “The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke,” Warren and her daughter, Amelia Warren Tyagi, argue that rising costs of essentials–such as housing, education and health care–are increasingly causing middle-class Americans to fall into debt.

According to the New York Times, this new research provides a, “clear-eyed correction to the myth of far-flung affluence.” And Money magazine has called it, “by far the scariest book” of the summer. In the next several weeks Warren will appear on numerous news programs–including the NBC’s Today Show, Fox’s The O’Reilly Factor, and The Early Show on CBS–to discuss the book and its implications.