"We have literally fallen from the middle-class to potentially having nothing," says Kate Michelman. But she's lying. Michelman, the former president of NARAL, was not middle class. You don't run one of the largest advocacy organizations in the country and make $42,000 a year. Similarly, her husband was a retired college professor. Between the two of them, they were almost certainly wealthy.
Which makes her story all the worse.
In 2001, Michelman's daughter was horseback riding. The horse spooked and fell backward, crushing her spine and paralyzing her. She had no health insurance. The bills neared a million dollars. Michelman cashed out her 401(k) and her IRA.