Last week, I picked up The Two-Income Trap looking for a quick quote for something I'm writing, and I ended up spending the afternoon rereading the book. It's an excellent read. She writes that the middle class has become immersed in debt not because they are spending more on material goods. Thanks to cheapo clothes at Target and disposable furniture at IKEA, we're actually spending less on those products than we did in the past. We are spending more on homes that are located in towns with good school districts. We not over extending to buy the towering McMansions with cathedral sized entrance ways, but crappy, over-priced homes in these towns just to give our kids a good shot at the future.
It's such a well-written book, and it's clear that she has great sympathy for good people who go bankrupt. Love it.
The New York Times has a feature on her attempts to reign in the excesses of Wall Street.