With the passage of a short-term economic stimulus package, Congress must now turn its attention to a broader multipronged Plan for Economic Recovery. Agenda item number one: a program to stem the vicious downward spiral in the housing market. More than 1% of U.S. households entered the foreclosure process last year, up by more than 75% over the previous rate. In addition to the pain caused to the affected homeowners, foreclosures affect our neighborhoods and communities. And foreclosures further depress house prices, which have plummeted by 8% from last year. How far must home values fall before we reach the bottom? Contagion from the housing crisis is drying up credit markets from prime housing to commercial paper to state and local government bonds. We face a vicious downward spiral, not just in house prices, but also in credit markets and the real economy. Could government action restore financial stability and confidence and head off a long period of real estate and community decline? If so, what steps can government take? If no action is taken now, what may the future hold?

Please join the Center for American Progress Action Fund, Chairman Barney Frank, and a panel of housing market economists and policy experts for a discussion of the how severe the crisis may yet become and a range of policy measures that Congress is considering.

The U.S. credit card market is showing signs of trouble just as the home mortgage foreclosure crisis surges to unprecedented heights across the United States and throughout the global financial marketplace. As borrowing in the mortgage market slows, credit card borrowing is rapidly accelerating. In the end, borrowers who are solicited to take out a new credit card on terms they do not fully understand could end up defaulting on their credit cards. Just as consumers defaulted on subprime mortgages, credit card defaults could add additional turmoil in financial markets and the economy. These problems can be nipped in the bud by creating a fairer credit card market for consumers so they can use credit wisely. With more control of their credit card accounts, borrowers will be better able to avoid the downward spiral into default.

We invite you to join us as Sen. Ron Wyden (D-OR) speaks about his bill that will create a five-star safety rating system for credit cards, followed by a discussion where experts share steps needed to inform Americans about the best credit card options. Panelists include a representative of the credit card industry and of government regulators of credit cards, as well as the perspective of credit card users. The event will feature the release of the paper "House of Cards," authored by the Center for American Progress Action Fund, to provide background of how increased credit card debt could lead to a deeper credit crunch.

For the first time ever, Nevada joined South Carolina as an early nominating state, and the impact of Latino and African-American voters on key states such as California, Texas, and Louisiana is more significant than ever before. This election season has already seen record voter turnout, and with candidates in both parties battling for every vote, the African-American and Latino electorates are shaping up to be highly influential players in this hotly contested race for president.

But will Latinos vote for an African-American candidate? How do African-American voters feel about the focus on Latino voters? How are these communities shaping up the 2008 election? What are the issues that unite African Americans and Latinos? And what are the campaigns doing to reach out them?

For insights into these and other important questions, the Center for American Progress Action Fund invites you to a panel discussion with leading experts to explore the role and impact these communities will have in the 2008 election and beyond.

Following the stunning defeat of President Musharraf's party, the Pakistan Muslim League-Q, by the opposition in the February 18 parliamentary elections, all eyes are now on Pakistan. The elections have served to diminish the Bush administration's "indispensable ally" and to fundamentally alter Pakistan's political landscape. U.S. policymakers must decide what the election results mean for Pakistan's future and U.S. policy toward Pakistan and the region. Senator John Kerry, just back from observing the elections in Pakistan, will share his insights on the elections and make recommendations for how the United States should shift its strategy toward Pakistan and Afghanistan.

Developments in Pakistan are of great interest to the United States and the world. The growing strength of militant groups, the establishment of terrorist safehavens in Pakistan's tribal areas, and what many see as a growing phenomenon of "Talibanization" mean that events in Pakistan have direct implications for U.S. national security interests. Please join the Center for American Progress Action Fund for a stimulating discussion with Senator Kerry on the multiple challenges facing U.S. policy in Pakistan.