Older Americans rely on credit cards as their financial safety net and pay down less of their debt than younger consumers, a new study shows.
Last year, the low- and middle-income 50-plus population had an average credit card balance of $8,278, compared with the younger generation's balance of $6,258, according to research conducted by Demos, a liberal public policy organization on behalf of AARP.
Tonight on NBC Nightly News, Chris Jansing reports on a new study that shows Americans age 50 and older are carrying an average of $8278 in credit card debt, thousands more than younger people. In addition, nearly 18 percent of those nearing retirement said they are using their retirement funds to pay down credit card debt.
AARP announced a major policy and research initiative Tuesday drawing attention to the economic decline of the American middle class. In the run-up to what will surely be a bruising Congressional battle over Medicare, Medicaid, Social Security, and other federal benefit programs, the powerful seniors' group said it would push for strengthened supports for all generations.
The head of AARP warned Tuesday that cost-of-living adjustments in Social Security would jeopardize the retirement security of many seniors.
A. Barry Rand, in a speech at the National Press Club, laid out his group's agenda as Washington heads into another showdown over the debt ceiling.
Rand repeated AARP's opposition to moving to the so-called chained consumer price index (CPI), calling it "one of the worst" ways to reduce spending in Social Security.
AARP CEO A. Barry Rand called for renewed focus on strengthening Social Security, Medicare and Medicaid in a speech today at the National Press Club. Rand discussed findings from AARP Public Policy Institute's newly released "Middle Class Security Project," which studies how middle class working Americans struggle - and often fail - to build and maintain retirement security.
Adrift on a sea of red ink, more middle class Americans are feeling queasy about their retirement plans. And many of those struggling to save have very little time to right the ship.
Even though the ads are gone and the election season is over (for now), the distorting impact of all that ad money permeates our entire political process.
The extent of the money in politics problem, how we got here (from a legal perspective), and what we can do to create a democracy in which the strength of a citizen’s voice does not depend on the size of her wallet.
Just sixty-one individuals gave $285.2 million to Super PACs in the 2012 elections, contributing the same amount as 1,425,500 small grassroots donors to the major party presidential candidates, according to a new report from Demos and U.S. PIRG.
This report, the fourth in a series, focuses on "the overwhelming influence of a tiny number of wealthy donors."
In 2012, just 61 large donors to Super PACs giving an average of $4.7 million each matched the $285.2 million in grassroots contributions from more than 1,425,500 small donors to the major party presidential candidates.
WASHINGTON -- More than half of the nation's 400 richest citizens have contributed money to help elect President Barack Obama or former Massachusetts Gov. Mitt Romney to the White House. These members of the Forbes 400, who boast a combined net worth of $1.7 trillion -- more than 10 percent of the country's gross domestic product -- have donated more to affect the outcome of the presidential race than ever before.
Outside spending organizations reported $1.11 billion in spending to the FEC through the final reporting deadline in the 2012 cycle. That’s already a 200% increase over total 2008 outside spending.
Kimberly Kelley of Tampa has provided Florida elections officials with thousands of names of people she thinks may be ineligible to vote and should be removed from the rolls. On Election Day, she’ll join thousands more — people of all political stripes — to monitor balloting.
“I believe there is fraud both ways. I don’t think it’s a specific group,” said Kelley, a registered Republican whose group is called Tampa Vote Fair. “We’re just there to observe. We’re not going to intimidate anyone.”
At a minimum, we can expect “poll-watchers” to come up with enough “documented” examples of “voter fraud” to support a general post-election effort to de-legitimize the results.
The afternoon before early voting began in the 2010 midterm elections, a crowd of people gathered in the offices of a Houston Tea Party group called the King Street Patriots. They soon formed a line that snaked out the door of the Patriots’ crumbling storefront and down the block, past the neighboring tattoo parlor. The volunteers, all of whom had been trained by the Patriots to work as poll watchers, had come to collect their polling-place assignments.
Is there a “state of emergency” over voting rights in America? That was the declaration of a coalition of civil rights, faith-based and social justice organizations and groups representing communities of color in a conference call on Wednesday, just in time for National Voter Registration Day on Sept. 25.
A mid-September sunny day in New York City draws those with the day off to go to the parks and laze along the avenues, walking by the workers on call, cleaning up after tourists, holding together a city that always seems held together by the sweat of its massive workforce and a dose of city pride. Beneath the massive Washington Arch, a woman in a wheelchair, beside other men and women in wheelchairs and other prosthetic devices, holds a sign that says, “Occupy Wheelchairs.” The Occupy Wall Street Disability Caucus is holding an assembly to proclaim its presence at Occupy, Year 2.
There are three inducements of support that Americans are powerless against: the promise of whiter teeth, the suggestion of no-diet weight loss and the cause of justice.