Elizabeth Warren defies socialist label while saying capitalism needs limits

4 The Record

We focus on campaign 2020 once again.

Democrats like to think they’re in a prime position to take control of both chambers of Congress and the White House next year.

All of the presidential candidates think they’re ready for prime time.

They are trying to prime the pump for the Iowa Caucuses.

They’re right about being prime in one way.

There are 17 of them now that Beto O’Rourke dropped out of the race.

That’s a prime number.

Right now ten of them have qualified for the next debate on November 20.

In case you’re counting we are now 85 days away from the Iowa Caucuses.

That is not a prime number.

This morning we will get to know the woman who is front and center in a lot of Democratic political conversations.

She is Elizabeth Warren of course.

Warren was born Oklahoma City.

She spent her early years in Norman, Oklahoma, then moved to oklahoma city for her adolscence, where she graduated from high school.

Warren earned her bachelor’s degree from the University of Houston in speech pathology.

She started out as a school teacher, then earned a law degree from Rutgers and went on to teach law at a few places, including Harvard University.

Warren specialized her legal research in bankruptcy regulation and consumer protection which she brought with her to government during the economic collapse of 2008.

She chaired the congressional oversight panel that implemented the Emergency Economic Stabilization Act.

Warren spearheaded the creation of the Consumer Financial Protection Bureau.

President Obama later appointed her to be an adviser to the Secretary of the Treasury to set up the agency.

She gained national attention and parlayed that into politics and ran for the U.S. Senate to represent Massachusetts.

Warren won and took office in 2013, a job she holds today.

Warren did not come into the presidential race as a favorite.

She quickly built a strong organization, has proven to be strong on the debate stage and… Warren has money.

She started the fourth quarter with more than $25 million in her campaign account.

Warren’s stock has risen in the polls accordingly.

She came to the Quad Cities a week ago and joined 4 The Record for a conversation.

Warren the Republican?

We start with something you might not know about her political past.

One thing a lot of people I’ve spoken to when you come up in conversation are surprised to hear when I tell them is that she was once a Republican.

Warren discussed why she switched and what attracted her to the party.

Health care

Today she is far from a Republican.

Her plans like Medicare for All, free college and wiping out college debt are very similar to proposals from Bernie Sanders with some nuances.

He’s a Democratic Socialist, but Warren doesn’t claim to be.

She explained why and how she will defend herself from the inevitable Republican attacks that she is a socialist if she wind up being the nominee.

How to pay

Warren took some pressure in recent months for not providing details about how she would pay for her Medicare for All plan.

That is until this week when she indicated it would be financed by increasing the wealth tax for the highest bracket.

Her assumption is that it would require $20 trillion in new federal spending. Other analysts say it would take $30 trillion.

So which is it? Warren broke it down.

Local 4 News, your local election headquarters, is proud to present 4 The Record, a weekly news and public affairs program focused on the issues important to you.  It’s a program unlike any other here in the Quad Cities. Tune in each Sunday at 10:30 a.m. as Jim Niedelman brings you up to speed on what’s happening in the political arena, from Springfield, Des Moines, Washington, D.C. and right here at home.

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