New Survey Report Reveals Truth Behind Excessive Credit Card Debt in the United States

Findings Show Skyrocketing Costs, Dwindling Savings, Stagnant Wages and Medical Debt Major Factors

WASHINGTON - July 28 - As the recession continues to squeeze financially vulnerable American households, they are turning to credit cards to make ends meet, according to "The Plastic Safety Net: How Households are Coping in a Fragile Economy," a new report published today by Demos, a national research and policy center.

This is Demos' second national survey examining credit card debt among low- and middle-income households--those whose incomes fell between 50 percent and 120 percent of local median income. It provides new information about why households are in credit card debt, how long they have carried their debt, and the impact this debt has had on their economic security.