If you don't talk about families, then it's easy to disembody subprime mortgages and asset securitization and unemployment rates without remembering that every one of those numbers is a million families.
Sentiment: NEGATIVE
The financial costs of family breakdown are incredibly high.
As our nation continues to slowly recover from the recession, it is clear some families are doing better than others.
You have to remember: what are incomes to banks are outgoes to families.
For too long, tricks and traps in mortgages, credit cards, and other financial transactions have stripped wealth from working families.
The family is the first economy. If the family breaks down, well, government gets bigger because of the consequences of family breakdown. We see in the neighborhoods where there are no marriages and there are no two-parent families.
There are 80 million moms in the United States. Forty million stay at home with their children.
The breakdown of the American family's having a disastrous impact on our economy.
Frankly, one of the problems we have in the country is we're not forming enough families. And that is hurting our economic work, and it's hurting our economic projections, because the best place for a child is within a strong family unit.
The financial crisis and the Great Recession demonstrated, in a dramatic and unmistakable manner, how extraordinarily vulnerable are the large share of American families with very few assets to fall back on. We have come far from the worst moments of the crisis, and the economy continues to improve.
Conservatives highlight the primacy of family and argue that family breakdown exacerbates poverty, and they're right. Children raised by single parents are three times as likely to live in poverty as kids in two-parent homes.
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