New York, NY — American families are using credit cards to bridge the gaps created by stagnant wages and higher costs of living and balances have grown dramatically since 1989, according to a new report published today by Demos. Borrowing to Make Ends Meet: the Rapid Growth of Credit Card Debt...
It has been nearly two decades since the credit card industry was deregulated with the promise of bringing greater competition and lower prices to consumers. Under the shield of deregulation, credit card companies have shifted the cost of credit to individuals least able to afford it. As this...
Demos Vice President of Policy and Programs Tamara Draut testifies before the U.S. Senate Committee on Banking, Housing, and Urban Affairs regarding the growth of credit card debt and credit industry practices.
New York, NY — As health care costs continue to rise faster than incomes, families are turning to credit cards to pay for medical care, according to new research by Demos and the Access Project. The public policy groups published the findings today in a report entitled "Borrowing to Stay...
Health care costs are rising sharply, placing stress on employers, individuals, and families. As employers look to rein in benefit costs, they are increasingly turning towards health insurance options that feature greater employee cost sharing through higher deductibles, co-payments, and...
New York, NY — Homeowners have been tapping into their home equity to get the cash needed to pay down credit card debt incurred not for luxury expenses, but for basic needs. This strategy leaves them on precarious financial footing after two years of interest rate hikes and the largest drop in...
Publication Announcement: New Book Reveals the Stories of Millions of Americans in Search of Economic Security
New York, NY — Today marks the publication of an illuminating new book, JACKED: How "Conservatives" are Picking your Pockets (whether you voted for them or not) (PoliPointPress, September 12, 2006, $12.95, ISBN: 0976062186), by Nomi Prins, acclaimed author of Other People's Money and Senior...
New York, NY — Today marks the release of a groundbreaking new book; STRAPPED: Why America's 20- and 30-Somethings Can't Get Ahead (Doubleday; On-Sale January 17, 2006), written by Tamara Draut, Economic Opportunity Director at Demos. In STRAPPED, Draut takes a hard look at why 60 percent of adults...
Since my mother and I both find the prospect of me moving back home nightmarish, I decided to end our "standards of living: then and now" debate once and for all. I sent her Strapped: Why America's 20- and 30-Somethings Can't Get Ahead, and guess what? It worked! Yes, the Strapped method of...
Washington, DC — American families are turning to credit cards to make ends meet in an increasingly volatile economy, according to The Plastic Safety Net: The Reality Behind Credit Card Debt in America, a new report released today by Demos and Center for Responsible Lending. Released just five...