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Elizabeth Warren Takes Major Step Towards 2020 U.S. Presidential Run

Warren's campaign is likely to revolve around the same theme she's woven into speeches and policy proposals in recent years

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Sen. Elizabeth Warren, a Democrat from Massachusetts, gives her victory speech at a Democratic election watch party in Boston, Massachusetts, Nov. 6, 2018. VOA

Sen. Elizabeth Warren on Monday took the first major step toward launching a widely anticipated campaign for the presidency, hoping her reputation as a populist fighter can help her navigate a Democratic field that could include nearly two dozen candidates.

“No matter what our differences, most of us want the same thing,” the 69-year-old Massachusetts Democrat said in a video that highlights her family’s history in Oklahoma. “To be able to work hard, play by the same set of rules and take care of the people we love. That’s what I’m fighting for and that’s why today I’m launching an exploratory committee for president.”

Warren burst onto the national scene a decade ago during the financial crisis with calls for greater consumer protections. She quickly became one of the party’s more prominent liberals even as she sometimes fought with Obama administration officials over their response to the market turmoil.

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United States Senator Elizabeth Warren, speaking at Powells Books, Portland, Oregon. Flickr

Now, as a likely presidential contender, she is making an appeal to the party’s base. Her video notes the economic challenges facing people of color along with images of a women’s march and Warren’s participation at an LGBT event.

In an email to supporters, Warren said she’d more formally announce a campaign plan early in 2019.

Warren is the most prominent Democrat yet to make a move toward a presidential bid and has long been a favorite target of President Donald Trump.

In mid-December, former Obama housing chief Julian Castro also announced a presidential exploratory committee, which legally allows potential candidates to begin raising money. Outgoing Maryland Rep. John Delaney is the only Democrat so far to have formally announced a presidential campaign.

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Matt Bamonte and US Senate Candidate Elizabeth Warren at St. Anthony’s Feast. Flickr

But that’s likely to change quickly in the new year as other leading Democrats take steps toward White House runs.

Warren enters a Democratic field that’s shaping up as the most crowded in decades, with many of her Senate colleagues openly weighing their own campaigns, as well as governors, mayors and other prominent citizens. One of her most significant competitors could be Sen. Bernie Sanders, a Vermont independent who is eyeing another presidential run harnessing the same populist rhetoric.

She must also move past a widely panned October release of a DNA test meant to bolster her claim to Native American heritage. The move was intended to rebut Trump’s taunts of Warren as “Pocahontas.” Instead, her use of a genetic test to prove ethnicity spurred controversy that seemed to blunt any argument she sought to make. There was no direct mention of it in the video released Monday.

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Sen. Warren with Jim Brett, New England Council. Flickr

Warren has the benefit of higher name recognition than many others in the Democratic mix for 2020, thanks to her years as a prominent critic of Wall Street who originally conceived of what became the government’s Consumer Financial Protection Bureau.

She now faces an arduous battle to raise money and capture Democratic primary voters’ attention before Iowa casts its first vote in more than a year. She has an advantage in the $12.5 million left over from her 2018 re-election campaign that she could use for a presidential run.

Also Read: Donald Trump Presses Democrats on Border Wall Funding Ahead of Senate Meeting

Warren’s campaign is likely to revolve around the same theme she’s woven into speeches and policy proposals in recent years: battling special interests, paying mind to the nexus between racial and economic inequities.

“America’s middle class is under attack,” Warren said in the video. “How did we get here? Billionaires and big corporations decided they wanted more of the pie. And they enlisted politicians to cut them a fatter slice.” (VOA)

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This Decade to be Good for the Financial Health of Millennials

2020s Could Be Decade Millennials Finally Get Ahead

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Share on Facebook Share on Twitter Share via Email Print this page The 2020s might be the decade faltering millennials finally roar to financial health. Pixabay

By Dora Mekouar

The 2020s might be the decade faltering millennials finally roar to financial health and lifestyle after a tough start brought on by the Great Recession, which lasted from 2007 until 2009.

Coming of age during the worst economic downturn in the United States since the 1930s meant that many of these young people, who are now in their mid-20s to late-30s, experienced a delayed entrance into the job market or accepted lower-paying jobs for which they were overqualified.

Many millennials were hard hit due to a variety of factors, including high unemployment, student loan debt, and an increased cost of living, particularly if they graduated from high school or college during the downturn.

Millennials
Millennials Andy and Stacie Proctor stand in their new home in Vineyard, Utah. VOA

“Since then, we’ve really had a lot of wage stagnation, particularly given that so many millennials started behind where they thought they would be,” says Jason Dorsey, president and lead millennial researcher at the Center for Generational Kinetics. “And it’s taken them longer to recover — if they have recovered.”

Experts also say U.S. millennials are the first generation to feel the full impact of decades of rising inequality in America.

A recent study found millennials are significantly financially worse off than previous generations were at the same age. Since 1996, the net worth of people under 35 has dropped by more than one-third, or 34 percent.

But things could be looking up for these younger Americans now that the average U.S. millennial is over the age of 30 and poised to enter the wealth-accumulation stage of their life.

“They’ve had a lot of time to learn about what it takes to succeed? What are the kinds of decisions that lead to the outcome that you want?” Dorsey says. “And for many millennials, boomers [people aged 55 to 75] are finally going to transition increasingly out of the workforce, which is going to create opportunity for them to actually move up into more management-style roles.”

Millennials
Juan Hernandez, 25, is among millennials nationwide with student debt who are worried about being able to qualify for a loan and come up with a down payment for a home. VOA

Millennials are at the age when Americans traditionally buy homes, start saving for the future, and invest for their retirement. It also will help that many have paid down their student debt now that they’ve been out of college for a number of years.

“And at the same time, many of them will become potentially two-income households and that’s also really helpful for many of them,” Dorsey says. “It’s sort of a perfect storm. It just happens to align with the 2020s. It’s not that the 2020s are this famous decade, but more so that millennials are hitting the times when they should start really saving and investing, and earning higher incomes relative to their spending.”

Also Read- Lower Physical Activity in Adulthood Leads to Obesity: Study

And if millennials blame previous generations for their current financial straits, it might cheer them up to know this is also the time many of them can expect to start inheriting wealth from their more well-off baby boomer parents or other relatives. (VOA)