There is no mystery to financial literacy. It plays a role in our lives with respect to financial matters, which is analogous to the role played by basic literacy in our daily lives.
Paul S. Sarbanes
The Public Record
Paul S. Sarbanes is a former U.S. Senator from Maryland, serving from 1977 to 2007. A member of the Democratic Party, Sarbanes was known for his work on financial regulation and consumer protection. He played a significant role in the passage of the Sarbanes-Oxley Act in 2002, which aimed to enhance corporate governance and accountability in the wake of major financial scandals. Throughout his career, Sarbanes focused on issues such as education, healthcare, and the environment, advocating for policies that benefited Maryland residents and the broader American public.
I want to commend you and the Ranking Member for holding this important hearing on the government's role in enabling Americans to make informed decisions about financial affairs.
It is difficult for me to understand why you cannot state very simply that one way of addressing the budget deficit is to show restraint on both spending and tax cuts.
In fact, it is their number one priority to do further tax cuts by making these tax cuts permanent.
4.8 million. And do you have any estimate on how many have dropped out of the labor force?
9.5 percent. Has it been running above 10 percent this year, or is that generally where it's been?
I still remain very seriously concerned about the condition of the long-term unemployed.