Despite millennials' lingering reputation as financial delinquents, it turns out not everyone drowning in credit card debt has a newly-printed college diploma and a stack of student loan bills.
Harsh, an IT professional from Tuscola, Illinois, is 62, around the age at which a lot of people start actively planning to retire to a white-sandy beach with a frozen margarita in hand.
Harsh's debt snuck up on her as she helped her two daughters with college and living costs. She went back to school after a divorce and dealt with unexpected expenses such as big dental bills. Now she has about $300 a month in minimum payments, spread across three credit cards, and the balance never seems to go down because of all the interest she is paying.
If you consider yourself part of the middle class, you could be forgiven for not standing at the ready after President Obama called for you to be reignited.
After a campaign season marked by climate silence, the President’s inaugural call for action on climate change left hope that the administration was serious about making climate a priority. And, there were parts in last night’s State of the Union that were promising, beyond the simple fact that he addressed the issue at length. First and foremost, the President tied extreme weather events to climate change.
Here’s another reason why income inequality is so destructive—it’s ruining our planet and increasing the severity of climate change. A new paper from the Center on Economic and Policy Research looks at a novel way to slow climate change: reduce the hours that we work. For reasons that are not entirely understood, shorter work hours are linked with lower greenhouse gas emissions.
We should be done by now with the idea that a corporation is a single thing. Corporations contain a multitude of conflicting interests and are much more like miniature governments with their own governance structures and election systems than is commonly recognized. While these structures are far more hierarchical and undemocratic than we require of our public institutions, Americans should not be resigned that this is the best or the only way the private sector can be structured.
Which is better for a country’s well-being: $10 million spent constructing a jail, or $10 million spent producing a line of smartphones? How about clear- cutting rain forests to produce $10 million in lumber? Or a storm that requires $10 million in repairs?
This Explainer explores how the Gross Domestic Product (GDP) is used in measuring our economic growth and whether alternative measures are also needed to provide a more comprehensive outlook of economic progress.
It falls into the good-luck-with-that category, but nevertheless the Wisconsin Public Interest Research Group and nine other organizations have announced they’re forming a coalition aimed at getting the Wisconsin Legislature to put an advisory referendum on the ballot about the growing problem of unlimited campaign spending.
When was the last time you contributed $1,000 to a political candidate or cause? For the majority of donors to Senate candidates, the answer is "very recently."
Not since the years before the Watergate scandal has a small cadre of mega-donors influenced our elections as much as wealthy givers such as casino tycoon Sheldon Adelson, DreamWorks Animation CEO Jeffrey Katzenberg, Texas homebuilder Bob Perry, and Chicago media mogul Fred Eychaner did in 2012.
A recent survey by Demos found that middle-income Americans 50 years of age and older have more credit card debt, on average, than younger Americans, a finding opposite of that reported in a 2008 survey.
The report revealed that older American households had an average credit card balance of $8,278 in 2012, while households with members under age 50 carried an average credit card balance of $6,258.
In our discussions around climate change, we’ve noted that while vast majorities of Americans both believe in climate change and think it’s manmade, pushing for action on climate change remains a low priority. This reality leaves Congress and the Administration free to not take any meaningful action on climate change and face little political consequence for not doing so.