Washington, DC — Today in the United States, the credit card market is measured on a scale of billions. The amount of debt owed on credit cards in 2005 was $800 billion; $30 billion is how much lenders profit each year. Under the guise of "democratization" the federal government has deregulated the industry over the past 30 years, eliminating caps on interest rates and penalties. Those who can least afford it are paying the price.
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 Healthy: How Credit Card Debt Is Related to Medical Expenses."
New York, NY — Today's young adults are feeling the full, deep impact of a massive shift in the US economy, and are no longer able to start and sustain a family, build a career and grow assets in the same manner as the previous generation, according to a new report series published today by Demos, a national, nonpartisan public policy center.
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 home prices in 35 years, according to House of Cards 2006 Update: Still Refinancing The American Dream, a report published today by Demos, a non-partisan public policy organization based in New York.
WASHINGTON, DC — The U.S. Supreme Court today announced its decision in Randall v. Sorrell, a case addressing the constitutionality of Vermont's comprehensive campaign finance law, passed in 1997.
Stuart Comstock-Gay, Executive Director of the National Voting Rights Institute, which defended the law alongside the state of Vermont, had this statement on the decision.
Boston, MA — The National Voting Rights Institute (NVRI) and the State PIRGs Democracy Program released a study today that found there is no support for the notion that campaign contribution limits hurt challengers. In fact, according to the study, contribution limits can work to reduce the financial bias that traditionally works in favor of incumbents.
WASHINGTON DC-- In the wake of an austerity debt ceiling deal that will cost 1.8 million jobs in 2012 and do nothing to address inequality and the decline of the American middle class, today the Rebuild the Dream Campaign – with the support of partner organization Demos – announced a new Contract for the American Dream.
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.
Boston, MA — A Poll commissioned by the National Voting Rights Institute (NVRI) revealed overwhelming support for election campaign spending limits as a way of improving the fairness, honesty and integrity of elections.
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.
Washington, DC — On Wednesday, October 12, 2005 at the National Press Club in Washington DC, leading policy research and advocacy groups Demos, the Center for Responsible Lending and AARP will release findings from a new national survey of household debt in a report entitled The Plastic Safety Net: the Reality of Household Debt in America.
New York, NY — African-American and Hispanic households are at greater financial risk and more likely to be in credit card debt than their white counterparts, according to a new report, Costly Credit: African Americans and Latinos in Debt, released today by the Economic Opportunity Program at Demos, a leading national, non-partisan public policy and advocacy group. The report analyzed and compared credit card debt and the forces driving credit card reliance in three ethnic/racial groups: African Americans, Hispanics and whites.
New York, NY / Washington, DC — Today, Demos: A Network for Ideas & Action, a national economic policy research organization, urges Congress to recognize the fragility of our debt-driven consumer economy when considering the bankruptcy "reform" bill (S. 256/H.R. 685) that has been passed by the Senate and is now under consideration in the House of Representatives. Short of opposing this dangerous legislation, the House should at least include amendments that will protect our nation's families from the most deleterious provisions.
NEW YORK — A new report released today, Home Insecurity: How Widespread Appraisal Fraud Puts Homeowners At Risk, reveals troubling evidence that many American homeowners and buyers are at financial risk from mortgage appraisal fraud. As a consequence, countless homeowners have borrowed more money than their homes are really worth. The report was conducted by Demos, a leading non-partisan, public policy group headquartered in New York City.
New York, NY and Washington, DC — Today, Demos: A Network for Ideas & Action, a national economic policy research organization, urges Congress to halt movement on the bankruptcy "reform" bill (S. 256 and H.R. 685) that will be introduced in the Senate on Monday, February 28, 2005. Congress must recognize of the fragility of our debt-driven consumer economy, and address the economic conditions that have brought about a household debt crisis in America.
Olympia, WA— The national June jobs report showed 200,000 more people joined the unemployment lines. In Washington, unemployment is also rising--as jobs shift rapidly from manufacturing to the service sector--and state tuition/student debt is growing fast. Because of these developments, the state’s low- and middle-income families are particularly threatened.
New York, NY — Today, Demos: A Network for Ideas and Action announces the launch of its new Bankruptcy & Debt Clearinghouse (www.demos-usa.org/debt), an online information center containing key research, data points and analysis on trends in debt, bankruptcy and credit industry regulation in the United States.
New York, NY — Across the United States, families increasingly rely on credit cards to make up for stagnant wage growth and soaring costs. In order to cope, homeowners are depleting their home's equity to pay off a growing mountain of unsecured debt. This is a financial strategy fraught with serious consequences, according to A House of Cards: Refinancing The American Dream, a new report released today by Demos, a nonpartisan public policy organization based in New York.
New York, NY-- Recent comments made by President Obama about the threat of budget negotiations stalling crucial social security payments have highlighted the growing pain felt by America's seniors. A new report "From Bad to Worse: Senior Economic Insecurity On the Rise," from the Institute on Assets and Social Policy and national policy center Demos, underscores how seniors have too few resources and too little time to plan for a fulfilling retirement.
NEW YORK — The economic security of younger Americans is eroding at an alarming pace as a result of slow wage growth, underemployment, rising costs and mounting student loan and credit card debt, according to a new report, "Generation Broke: The Growth of Debt Among Younger Americans," released today from Demos, a nonpartisan, public policy group based in New York City.