Dēmos and New Economy Project explore how public banking can expand opportunities for communities of color to build shared generational and community wealth.
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.
How stark racial disparities have long pervaded our financial services system, fueling and entrenching inequality, and why public banks are a transformative, equitable alternative.
While the longest shutdown in U.S. history leaves millions of Americans with missed paychecks and mounting bills, this piece explores why we must build wealth for all, especially for communities that have been historically kept from economic opportunity.
While the government shutdown left us without recent economic data, the rising Black unemployment rate reveals essential truths about the state of our economy.
Despite living in one of the world’s wealthiest nations, millions of Americans remain financially vulnerable, with stark racial disparities in who has enough emergency savings to weather even a brief crisis.
A strong economy cannot be measured by stock market performance; it must be assessed by everyday people’s ability to meet their basic needs and achieve economic security.
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."
The unemployment rate for Latina women reminds us that access to work alone is not enough. An economy that works for all requires not just jobs, but jobs that provide security, safety, and real opportunity.
A stronger economy starts with a stronger care system. Treating care as public infrastructure would benefit care recipients, care workers, and caregivers alike, while strengthening the economy for all of us.
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.
This installment of our Economic Indicator Series examines why long-term unemployment matters, what it reveals about the true health of the labor market, and how persistent disparities in unemployment duration deepen existing racial inequities over time.
The affordability crisis is the result of policy choices — and different choices can reverse it. This report from Dēmos and People's Action traces why housing, utilities, food, health care, and child care have become unaffordable, and five structural solutions for building a people-powered, racially just economy.
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.
