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. Key Findings:
This report reveals the extent of credit information “mission creep,” examines troubling shortcomings in the for-profit credit reporting industry, and recommends common sense steps to reform the credit reporting system.
To increase postsecondary success among low- to moderate-income students, we must reform financial aid and provide additional financial supports to help students cover the cost of living expenses.
In February and March 2012, Demos surveyed a nationally representative sample of 997 low- and middle-income American households who carried credit card debt for three months or more.
Access to a post-secondary education is a vital aspect of the American dream, allowing for equality of opportunity and a stable pathway to the middle class for all who are willing to work for it regardless of their background or socioeconomic status. Higher education not only improves the prospects for the employment and earnings of individuals, but has benefits that feed back into communities and society as a whole, including increases in civic participation and productivity, and preparedness for success in the global economy. Our shared commitment to these values is reflected
In the wake of the worst effects of the Great Recession, African Americans, like Americans as a whole, are getting their balance sheets in order and paying down credit card debt. But new research from Demos’ National Survey on Credit Card Debt of Low-and Middle-Income Households finds that African Americans face challenges to their financial security that are unlike those of white households.
For the last year, we—Demos, Anat Shenker-Osorio (ASO Communications) and Ian Haney López (author of Dog Whistle Politics), —have partnered in an ambitious multi-phase project to build an effective new narrative on race, class, and democracy. The central question we’ve explored is how to engage simultaneously around race and class in ways that strengthen social solidarity, reduce division and scapegoating, and create a viable foundation for progressive policy victories.
Empirical data showing policymakers, organizers, and progressives that there is clear public support for the notion that racism is a divide-and-conquer tactic creating distrust, undermining belief in government, and causing economic pain for everyone, of every color.
Both economic and racial justice are core progressive priorities, but too often we discuss them separately. On the contrary, racial and economic harms are intertwined, as are our desired solutions to them. Wealthy elites exploit racial fears to turn working people against each other and government; economic pain increases racial resentment and facilitates scapegoating, fueling support for punitive measures against people of color.
Demos conducted a nationwide survey of low- and middle-income households in early 2012. The findings in this brief summarize the relationship between college costs and credit card debt, and its impact on students and their parents.
The Economic Democracy Project aims to highlight and develop strategies that Black and brown communities can use to build economic and political power—beginning with four case studies spotlighting community campaigns across the U.S.
