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Beyond the Mortgage Meltdown
Addressing the Current Crisis, Avoiding a Future Catastrophe
June 25, 2008
20 Ways to Fight for the Future
Young Activists Handbook
May 22, 2008
The Economic State of Young America
May 6, 2008
Economic (In)Security
The Experience of the African-American and Latino Middle Classes
February 21, 2008
In the Red or In the Black?
Understanding the Relationship Between Household Debt and Assets
January 23, 2008
By a Thread
The New Experience of America's Middle Class
November 28, 2007
Borrowing to Make Ends Meet
The Rapid Growth of Credit Card Debt in America
November 7, 2007
Who Pays?
The Winners and Losers of Credit Card Deregulation
August 1, 2007
Tamara Draut 2/16/07 Senate Testimony on Higher Education Costs, Student Debt
February 16, 2007
Tamara Draut 1/25/07 Senate Testimony on Growth Of Credit Card Debt and Credit Industry Practices
Before Senate Banking Committee -- January 25, 2007.
January 25, 2007
"Borrowing to Stay Healthy" 1/16/07 Press Teleconference:
Expert Comments
January 16, 2007
Borrowing to Stay Healthy
How Credit Card Debt is Related to Medical Expenses
January 16, 2007
Higher and Higher Education
Trends in Access, Afordability, and Debt
November 28, 2006
Young Adult Economic Series Part 1
Paycheck Paralysis
Jobs and Incomes in Today's Labor Market
November 28, 2006
Young Adult Economic Series Part 2
The High Cost of Putting a Roof Over Your Head
Young Adults Face Unafordable Rental and Housing Markets in Major Cities Across the U.S.
November 27, 2006
Young Adult Economic Series Part 4
Generation Debt
Student Loans, Credit Cards, and Their Consequences
November 27, 2006
Young Adult Economics Series Part 3
And Baby Makes Broke
Raising a Family is a Young Adult Issue
November 27, 2006
Young Adult Economic Series Part 5
Young Adult Economic Series
Executive Summary
November 27, 2006
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A House of Cards Update
Refinancing the American Dream
November 14, 2006
In response to ever-increasing financial pressures, families have come to depend on high-cost credit as a way to bridge the gap between stagnant or decreasing incomes and rising costs. How are families coping with their new burden? To hang on to the American Dream, to be part of the ownership society, homeowners are depleting their homes' equity to pay off a growing mountain of unsecured debt -- a financial strategy fraught with serious consequences.
As mortgage interest rates fell to record levels during the refinance boom, it became more appealing to cash out home equity during the refinancing process to pay down credit card debt and finance current living expenses -- a short-term solution that fails to address the long-term economic realities faced by the average family.
As the housing bubble deflates and interest rates on risky adjustable-rate mortgages have risen, more and more homeowners are feeling the pinch. Refinancing for a second or third time is becoming a common band-aid. Defaults are also increasing, particularly for subprime mortgages. The added burden of missing a mortgage payment results in putting at risk your homeyour family's most important asset. All of these factors lead to a crisis in personal finance: a blurred line between good debt -- debt that results in appreciable asset -- and bad debt, which does not.
The Economic Challenges of Young People
A Demos Briefing Kit
May 24, 2006
Although Americans of all ages have endured the economic and social changes of the post-industrial era, today's young people are the first to experience its full weight as they try to start their adult lives. But the challenges facing young adults also reflect the failure of public policy to address the changing realities of building a life in the 21st century. As America's new grads and young workers are trying to get into the middle class, they're being hit by a one-two punch: the economy no longer generates widespread opportunity and our public policy is not picking up the slack, much less planning for long-term economic challenges.
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African Americans, Latinos and Economic Opportunity in the 21st Century
March 22, 2006
The United States faces major challenges in sustaining a strong middle class in the decades ahead. Rapidly changing, often volatile economic conditions are making it more difficult to enter the middle class -- and stay there. Even as the bar to a middle class life is raised higher, economic opportunity is fading. As a result, the most rapidly growing groups in the U.S. -- particularly African Americans and Latinos -- face growing obstacles to entering, and staying in, America's middle class.
The Plastic Safety Net
The Reality Behind Debt in America
October 12, 2005
Findings from a National Household Survey of Credit Card Debt Among Low- and Middle-Income Households
Measuring the Middle
Assessing What It Takes to Be Middle Class
September 8, 2005
This report is the second in a series of Demos publications which looks specifically
at growing the middle class.
Costly Credit
African Americans and Latinos in Debt
May 11, 2005
While real income gains were realized during the economic boom over the latter half of the 1990s, the average American's credit card debt rose faster than ever before. While balances grew faster for white families than for African-American and Hispanic families, all groups experienced a significant rise in debt between 1992 and 2001. African-American and Hispanic families were more likely, overall, to carry a
credit card balance than whites. Costly Credit, the fourth in a series of briefing papers documenting the dramatic rise in credit card debt, provides a snapshot of these trends by race between 1992 and 2001.
Households At Risk
The Bankruptcy "Reform" Bill and Its Impact on American Families
April 12, 2005
An issue briefing kit on the real causes of debt and bankruptcy. Intended for legislators, journalists and advocates.
Home Insecurity
How Widespread Appraisal Fraud Puts Homeowners At Risk
March 15, 2005
Many Americans have reduced the equity in their home to pay off credit card debts and cover day-to-day expenses. More troubling still is evidence that many appraisers fraudulently inflate property values during the buying or refinancing of homes. This paper explores the implications of appraisal fraud.
What's Wrong with the Bankruptcy Bill?
Bill Analysis of S.256
February 24, 2005
Passage of the bankruptcy bill would make it harder for families struck by financial misfortune to get back on track. It would benefit the very profitable ($30 billion in 2004) credit card industry at the expense of the modest-income families who represent the great majority of those who declare bankruptcy.
Illness and Injury as Contributors to Bankruptcy
Harvard Medical and Law Schools
February 2, 2005
Finds that half of personal bankruptcies are predated by medical problems, even among the insured.
A House of Cards
Refinancing The American Dream
January 9, 2005
"A House of Cards" is the third in a series of Borrowing to Make Ends Meet Briefing Papers. Since the refinancing boom began in 2001, American homeowners have cashed out over $330 billion in home equity to cover rising living expenses and credit card debt, putting at risk their most important asset - their home.
Generation Broke
The Growth of Debt Among Young Americans
October 13, 2004
"Generation Broke", the second in a series of Borrowing to Make Ends Meet Briefing Papers, reports a 55% average increase in credit card debt among America's young adults from 1992 to 2001.
Build a Strong Middle Class
Communications Toolkit for Advocates (PDF)
October 13, 2004
Gives advocates the tools they need to bring the issue of economic insecurity among America's aspiring middle class to the forefront of the political debate.
Morality and the Market
Values, Ethics and the Need for a New Social Contract
October 1, 2004
Senior Fellow David Callahan explores how to manage the inevitable moral downsides of market capitalism. He calls for a "new social contract" to strengthen core American values like fairness, opportunity and democracy.
Tamara Draut Testimony: House Financial Services Committee
Sept. 15, 2004: "Regarding Financial Services: A Consumer's Perspective"
September 20, 2004
Testimony presented by Tamara Draut, Director of Demos' Economic Opportunity Program, on consumer issues in credit card lending.
Millions to the Middle - Executive Summary
Three Strategies to Expand the Middle Class
August 30, 2004
A concise executive summary of "Millions to the Middle", a report on the future of economic security in the New Economy, offers long-range ideas for creating tomorrow's vibrant middle class, in the areas of higher education, income, debt and assets.
Millions to the Middle
Three Strategies to Expand the Middle Class
August 30, 2004
An in-depth report on the future of economic security in the New Economy. Offers long-range ideas for creating tomorrow's vibrant middle class in the areas of higher education, income, debt and assets.
Opportunity 2004: Briefing Memo
Growing and Protecting the Middle Class
August 5, 2004
Overview memo to advocates and policymakers, urging a new investment in policies around higher education, income, assets, and personal debt.
Leveling the Playing Field
Expanding Access to Higher Education
August 4, 2004
Two-page policy brief outlining the need for a new grant-based investment in higher education ("The Contract for College") in order to grow and protect the middle class.
Building the American Dream
Asset-Building as a Foundation
August 3, 2004
Two-page policy brief recommending three new asset-based solutions to grow and protect the middle class.
Closing the Gap
Helping Working Families Make Ends Meet
August 3, 2004
Two-page brief proposing a new Working Families Tax Credit to fill the gap between workers' low wages and the real cost of living in America.
Restoring Borrower Security
Addressing the Debt Crisis in America
August 2, 2004
Two-page policy brief with new solutions to lower the cost of credit and help Americans get out of debt.
Credit Card Industry Practices: In Brief
June 6, 2004
A two-page brief on how deregulated credit card issuers have maximized their profits at the expense of American consumers.
What Do Americans Think About Inequality?
An Analysis of Polls and Media Coverage of Income Inequality
May 1, 2004
Demos Senior Fellow Leslie McCall explores public opinion toward economic inequality since the 1980s. Her study shows that Americans are more concerned about inequality than is commonly believed and that media coverage of economic issues plays an important role in shaping public attitudes.
Retiring in the Red
The Growth of Debt Among Older Americans
January 19, 2004
NEW: SECOND EDITION. "Retiring in the Red" is part of the Borrowing to Make Ends Meet Briefing Paper Series. Reports an 89% average increase in credit card debt among America's seniors from 1992 to 2001.
The Cheating Culture
Why More Americans Are Doing Wrong to Get Ahead
January 1, 2004
Senior Fellow David Callahan's look at ethics in America. Esquire calls it "A damning and persuasive critique of America's new economic life." www.cheatingculture.com
Personal Stories of Borrowing to Make Ends Meet
September 8, 2003
This paper present profiles of Americans struggling with credit card debt and bankruptcy, due to economic insecurity.
Borrowing to Make Ends Meet
The Growth of Credit Card Debt in the '90s
September 8, 2003
Using new data, this report explores how families are increasingly using credit cards to meet their basic needs. This report also examines the factors driving this record-setting debt and the impact of deregulation on the cost, availability and marketing of credit cards.
Borrowing to Make Ends Meet - Executive Summary
The Growth of Credit Card Debt in the '90s
September 7, 2003
A concise executive summary of the recent Demos report, "Borrowing to Make Ends Meet."
New Opportunities?
Public Opinion on Poverty, Income Inequality and Public Policy, 1996-2002
October 1, 2002
An analysis of public support for policies that would bolster incomes and enhance opportunity, and an examination of the underlying values that shape people's opinions about poverty.
Crossing Divides: Executive Summary
New Common Ground on Poverty and Economic Security
September 1, 2002
The Executive Summary of the full report, Crossing Divides, examining four cases of policymaking during the 1990s -- the Earned Income Tax Credit, Individual Development Accounts, the Children's Health Insurance Plan, and Empowerment Zones -- suggests some emerging common ground among liberal and conservative policymakers.
Crossing Divides
New Common Ground on Poverty and Economic Security
September 1, 2002
Examining four cases of policymaking during the 1990s -- the Earned Income Tax Credit, Individual Development Accounts, the Children's Health Insurance Plan, and Empowerment Zones -- suggests some emerging common ground among liberal and conservative policymakers.
The Conflicted American
March 14, 2002
Keynote address to the National Network of Grantmakers about public opinion of poverty and inequality, given by Tamara Draut, Director of Demos's Economic Opportunity program.
Quality of Life
The New Politics of Work, Family and Community
February 23, 2000
Traditional social and economic analyses do not capture the full range of negative repercussions that accompany the excessive influence of market forces and market values in American society. Measuring our "quality of life" offers us a way to redefine the meaning of progress in the 21st century.
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