Elizabeth Warren: ‘America’s middle class is in deep trouble’

Gas prices are hovering around $2 a gallon. Unemployment applications are at the lowest point since October. The stock market is booming.

But Sen. Elizabeth Warren, D-Massachusetts, gave a fiery keynote address at the AFL-CIO’s National Summit on Raising Wages conference Wednesday morning, where she blasted leaders of both parties for buying into “trickle-down policies.”

While she doesn’t argue the economy is improving, she argues it isn’t trickling down to everyone.

“But the overall picture doesn’t tell us much about what’s happening at ground level to tens of millions of Americans,” she said, according to the Washington Post. “Despite these cheery numbers, America’s middle class is in deep trouble.”

Warren also said “democracy does not work when congressmen and regulators bow down to Wall Street’s political power,” and that politicians need to be reminded they don’t work for big banks, but instead, they work for the American people.

Warren’s speech came on the same day President Barack Obama is giving a speech at a Ford Motor Co. assembly plant in Michigan touting the bailout of the U.S. auto industry.

Via Washington Post, Politico