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.
Nathan Kelly is an associate professor of political science at the University of Tennessee. His book, The Politics of Inequality in the United States, examines how politics affects the market distribution of income, as well as government redistribution. Kelly and I discuss the implications of his work at the intersection of economic and political inequality.
The state-appointed Detroit Emergency Manager has commenced a program of shutting off the water of a large portion of the 138,000 delinquent accounts, up to 90,000 of which are poor households and largely African-American.
In New England, the Market Basket supermarkets are known for their low prices and friendly staff. But Market Basket's lines are short and the parking lot empty today, due to an a two-week old worker-led strike and an ongoing customer boycott.
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?”
President Obama should sign a Good Jobs executive order to encourage contractors to improve workplace benefits and respect their employees’ rights to bargain collectively.
Racial disparities in labor markets, wealth accumulation, and economic mobility persist even in the best economies as the legacy of past discrimination disadvantages people of color in transactions with ostensibly race-neutral rules.
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.
This week we're bringing you a deep dive into how an intersectional approach to money in politics brings new voices to the movement and helps those who are most harmed by big money politics take a stronger leadership role within the movement to stop it.
ALBANY — Cleanup of hard-hit areas in New York from Tropical Storm Irene is expected to take months because roads and bridges have to be rebuilt, farms restored and infrastructure reconstructed.
While experts say the flooding was impossible to prevent, the storm that ravaged upstate wasn't initially expected because most of the original focus was on New York City and its suburbs, which ultimately didn't get hit as badly as rural areas.
Sen.