Issue #1 for the Democrats

According to Harvard Law professor Elizabeth Warren, interviewed on
Salon, “Today’s two-income
family has 75 percent more income than the one-income family had a
generation ago, but by the time they make four basic payments and their
taxes they have less money to spend than their one-income
parents.”  One consequence of which is that “Being a parent is the
best predictor that a person will file for bankruptcy.”

Here is a long-term realigning issue for American politics.  (One
which I happen to appreciate particularly well because I’m a parent in
a two-income family.)  The traditional story is that people become
more Republican as they get older and wealthier.  But lower income
taxes and better crime prevention aren’t the key issues for those
parents going bankrupt.  Whomever can address the issue of
economic security for today’s twenty-, thirty-, and forty-something
working families will have an important piece of the 21st-century
governing coalition.