Some excerpts:
You were a Republican for much of your adult life. Does that give you an advantage to understand conservative voters, to be able to tailor your message—
I would describe it not so much as tailoring as finding the part in the heart where we ultimately, as Americans, agree with each other. Much of the conversation that I now have publicly about corruption — how the rich guys are sucking up all the wealth and leaving everyone else behind — is a long-running conversation I’ve been having with my brothers for decades. They get it. My Democrat brother and my two Republican brothers understand that the rules for billionaires and corporate executives are not the same as the rules for their kids. And they don’t like it. And neither do I.
Your family had financial trouble when you were a kid. Obviously, it’s shaped your political philosophy, but I’m curious how it impacted your personal relationship with money.
I’ve always been afraid there won’t be enough money. Always. I’ve always saved. I’ve always watched the prices of everything. And I’ve always worried about the rest of my family, worried about making sure everyone is OK.
Was your decision to go back to college after you dropped out to get married motivated by a need to feel financially self-sufficient?
You’re right, it has that effect. But it was the other way round. I wanted to be a teacher. I’ve wanted to be a teacher since second grade. When I dropped out of school at 19 and got married, I thought I’d given that up. I knew that theoretically I could go back to school, but it would cost money. Finding a commuter college that cost $50 a semester was a door swinging open in a way that I had thought was impossible. So there I was, I could pay for it. And now that I could pay for it, I could be a teacher.
Your dad was the breadwinner before he had a heart attack, and your mom had to go to work to provide for your family. You often describe your mom as encouraging you to get married rather than pursue your education, almost setting you up to end up in the same position she was in.
I think she would have described it as “Be very careful about the man you marry.” That was the pathway to success, not “Go create a path for your own financial independence.” Now, it took a lot of courage for my mother at 50 to take on her first full-time job. But it was never something she was happy about. She didn’t say, “What a great and fulfilling opportunity that was!” She saw it as work born of necessity, because she had to take care of her family and she wanted me to be safe. And to her dying days she still believed that the best way for a woman to be safe was to be married to a man who earned good money.
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One of your earliest forays into politics was battling Joe Biden in the Nineties over bankruptcy reform. There was a big difference back then in your two worldviews. Do you have those same differences today?
Our differences are a matter of public record, and I haven’t changed any of my views. The fundamental problem I see in Washington today is the influence of money. The giant corporations who can spread it around, the billionaires who can buy influence, the lobbyists who are there every day to advance the views of those who pay them well to attend every meeting. It’s why my campaign starts around this question of how power is distributed. Our government works great for those with lots of money and not so much for anyone else. And that’s been a problem for a long, long time.
Did you get the sense that he ever grasped your criticism of the bankruptcy bill?
I don’t want to go back and relitigate 15 years ago.
I’m curious whether you think more Americans are in debt today because of that bill that Biden championed.
Let me say it the other way: A lot fewer people can get the help they need today because of the change in the laws. That’s what the research I did with my co-authors [showed]. There’s been so much work on this, too, about families caught in financial hell who can’t get any help because the bankruptcy laws were tightened to the point of suffocation back in 2005.
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What’s the best advice you’ve ever gotten?
Ask yourself what’s the worst that could happen, and if nobody will get physically injured, then give it a try.
What’s one piece of financial advice that you think everyone should know?
Debt is really dangerous — far more dangerous than you think.
https://www.rollingstone.com/politics/politics-features/elizabeth-warren-interview-cover-927716/amp/