According to the advocacy group Demos, the average balance among lower- and middle-income households is $8,650.
"World News Tonight's" special series "Credit Crunch" aims to help you get on the road to becoming debt free.
Draut argues that "with the possible exception of having a larger array of entertainment and other goods to purchase, members of Generation X appear to be worse off by every measure" than prior generations.
Robert Frank, an economist at Cornell University, for instance, found that in counties with the widest income gaps, rates of personal bankruptcy and divorce rates were higher than average.
Today's 20-somethings are likely to be the first generation to not be better off than their parents." This is the first line of Economic State of Young America, a report released by Demos, a nonpartisan public policy think tank in New York City. And that's a troubling thesis for a generation that grew up being told they can do and be anything.
In the wake of the Supreme Court's recent decisions in Citizens United v. FEC and McCutcheon v. FEC, this amendment is a necessary counterbalance to the deluge of money that wealthy individuals, corporations and special interests have flooded into our elections.
A year ago today, inShelby County v. Holder, the Supreme Court dealt a huge blow to voting rights. The Voting Rights Act Amendment is at the center of a Senate Judiciary Committee hearing today and Congress has the potential to reverse the damage rendered by the Shelby decision.
I remember the stunned reaction of so many Americans back in the summer of 2005 when legions of poor black people in desperate circumstances seemed to have suddenly and inexplicably materialized in New Orleans during the flooding that followed Hurricane Katrina.
Expressions of disbelief poured in from around the nation: “How can this be happening?” “I had no idea conditions were that bad.” “My God, is this America?”
Michael was a human being. This is a simple truth, Michael’s humanity. Yet it is also implicitly a fragile insight, one that the police indifference to the dignity of his corpse and to the sentiments of his gathering neighbors suggests that many officers failed to grasp.
When you find a leak, do you jump up and point at it? Yell about it? What if the leak is part of a massive flood? Do you call up your friends and make plans to build a dam? What if the leak comes at you when you’ve been trapped in a basement with floodwater rising up to your neck?
Early Wednesday morning, many media outlets were buzzing with news of a leak.
Celebrating Pennsylvania’s recent passage of a restrictive piece of voter ID legislation, Pennsylvania House Majority Leader Mike Turzai (R) stated, “Voter ID, which is gonna allow Governor Romney to win the state of Pennsylvania, done." This statement, shocking only for its honesty, reveals what many voting rights organizations have been saying for years: Changing the rules relating to voting is a kind of power grab, a partisan effort to change outcomes.
Even though it’s only the 9th of July, nearly 3,400 maximum and minimum temperature records have been tied or broken so far this month. Dozens of people have died and the lack of rainfall combined with the extreme heat is threatening the Midwest’s corn crop.
Following up on our last post on the link between climate change and extreme weather, a new scientific study was released that found that manmade climate change increases the probability of extreme weather patterns. The study was a joint effort between the National Oceanic and Atmospheric Administration (NOAA) in the U.S. and the Met Office in the U.K.
How to value the economic role that natural resources play and incorporate some of these external costs so that not only are we aware of the impacts, we can begin to start incorporate them into pricing.