Economic insecurity has become the “new normal” in America. Ten million Americans are out of work, and the vast majority of Americans have seen their incomes stagnate or decline over the past decade. Demos’ extensive research on credit card debt among middle- and low-income households has found that most indebted families go into debt to pay for basic expenses: groceries, utilities, child care, and health care. Simply put, Americans are borrowing to make ends meet.
For many years, health care costs have been steadily rising. As employers have moved into insurance coverage options with greater out-of-pocket expenses or have stopped providing health care coverage altogether, American families have struggled with the burden of health care costs.
In the last thirty years, our nation has experienced a paradox of productivity and progress. Productivity, driven by extraordinary growth in technology and an increased push towards consumption, has nearly tripled. Meanwhile social, environmental, and educational progress has stalled.
Social Security remains our nation’s key source of retirement income for most Americans. The program’s overall health is sound and with relatively modest tweaks to the program’s financing, we can strengthen the system for generations to come.
Raleigh — North Carolina's young adults will continue to face a tough economy--one ravaged not only by recession but also by 30 years of declining opportunity and security for all but the most highly educated and affluent, according to a new report by Demos and the North Carolina Justice Center.
Young adults in North Carolina and across the country are confronting an economic reality vastly different from that of their parent’s generation. Over the past three decades, economic opportunity and security for all but the most affluent and most highly educated has declined. Today, North Carolina’s workers in their early twenties earn almost a fifth less in real terms than workers their age forty years ago, while those in their mid twenties earn only three percentage points more than workers their age four decades ago.
Arizona, Louisiana, Nevada Among States With Onerous Laws and Rules That Could Affect Mid-Term Election Results; North Carolina Stands Out as Best for Voters
Recent federal action, including the passage of the Credit Card Bill of Rights of 2009 and the creation of the Consumer Financial Protection Bureau, provided needed regulation and oversight of the credit card industry. However, past debt continues to haunt families even as they add on new debt. The findings below, from the 2008 Credit Card Debt Household Survey of Low-and Middle-Income Households, demonstrates that the means used by consumers of color to pay down debt further chips away at their economic viability.
How the Dodd-Frank Wall Street Reform and Consumer Protection Actwill bring greater security to American consumers, investors and Main Street businesses.
New York — Millions of low-income Americans can be brought into the political process through proper implementation of an often-neglected provision of the National Voter Registration Act of 1993 (NVRA), according to a report published recently by Demos, and cited in yesterday's New York Times editorial,
"We've got to deal with the conflicts. If I hire S&P or Moody's to be my consultant and show me how I can do this and that to get an investment-grade rating or [an] even higher rating, they obviously have a conflict of interest there."
"That's right. I think the compensation model... where the issuer pays for the rating is really at the heart of the conflict problem..."
Work by Demos and its partners suggests that millions of low-income Americans can be brought into the political process through proper implementation of an often-neglected provision of the National Voter Registration Act of 1993 (NVRA) that requires states to provide voter registration services to applicants and recipients of public assistance benefits. And the time is ripe to ensure that voter registration is provided at public assistance offices.
Democracy works as intended when all citizens are able to participate and make their voices heard. While the United States has come a long way in expanding the franchise over the past 220 years, barriers to participation still exist and these barriers disproportionately affect low-income citizens. In 2008, the registration gap between low-income and high-income citizens was over 19 percentage points.
Delaware Passes Law to Count Incarcerated Persons at their Home Addresses for Redistricting
BecomesSecond State To Adopt Reform Ensuring Fairness and Accuracy of Redistricting
Dover — On June 30, the Delaware Senate passed a bill ensuring that incarcerated persons will be counted as residents of their home addresses when new state and local legislative districts are drawn in Delaware. The bill previously passed in the House, and is now awaiting Governor Jack Markell's signature.