In the News

Older Americans are disproportionately likely to be in debt. A 2012 Demos survey found that citizens 65 and older typically carried $9,300 on their credit cards, the most of any age group. Debt burdens are increasing, too.

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Myth 1: Most retail workers are teenagers or young adults who do not really need the money

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Rep. Thomas Petri (R-Wis.) on Thursday introduced legislation to provide tax credits and deductions for political donors making small contributions.

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A new report says declining revenues and bad Wall Street deals—not out-of-control spending or generous pension benefits--contributed the most to Detroit’s bankruptcy.

The report from the left-leaning think tank Demos also accuses Emergency Manager Kevyn Orr of attacking the problem in “inappropriate” ways that are “not rooted in fact.”

Come Black Friday (which for many big retailers has become a two-day affair starting on Thanksgiving), Walmart will again be facing strikes and protests from workers upset with the corporation's low pay.

Walmart is coming under fire for shortchanging its own employees.

On Wednesday, Walmart workers called out or walked off the job at seven stores in Dallas, according to OUR Walmart activists, the group that has been organizing strikes and protests against the company. The company says that these were not independent actions but the result of activists being bussed between different store locations. [...]

Pension fund liabilities are not to blame for Detroit's descent into Chapter 9 bankruptcy protection, according to a report released Wednesday by Demos, a public policy advocacy group.

Detroit's bankruptcy was caused by a decrease in tax revenue due to a population decline and long-term unemployment, “not an increase in the obligations to fund pensions,” said Wallace C. Turbeville, a Demos senior fellow, and the author of “The Detroit Bankruptcy” report.

Declining revenue, a drop in employment and large, risky Wall Street deals are the real causes of Detroit’s bankruptcy, according to a report by Demos, a liberal public policy organization.

Pension debt gets a bad rap in Detroit, but it isn’t the true cause of Detroit’s financial problems, said Wallace Turbeville, author of the Demos report.

At a Walmart store in Ohio, needy employees are receiving Thanksgiving food donations from their fellow workers. Such generosity would make a nice holiday story, except in this case the altruism is fueling criticism of the retailer’s low wages.