Political Quotes

“I am pleased that the Senate has once again passed a resolution designating April as Financial Literacy Month. I thank my cosponsors, Senators Enzi, Dodd, Crapo, Johnson, Corker, Schumer, Cochran, Menendez, Wicker, Kohl, Merkley, Inouye, Durbin, Baucus, Murray, Lincoln, Begich, Gillibrand, Feingold, Levin, Carper, Cardin, Stabenow, and Hagan. I am glad to work once again with my colleagues in a bipartisan manner to promote financial and economic literacy for all Americans. This tax day I want to recognize those organizations that gathered information on the status of financial literacy in our country. This includes the Jumpstart Coalition for Personal Financial Literacy's survey of high school seniors and the Employee Benefit Research Institute's Retirement Confidence Survey. These surveys present deeply troubling figures that underscore the need for increased financial literacy. The financial literacy of high school students has fallen to its lowest level ever, with a score of just 48.3 percent. Also, the percentage of workers who were 'very confident' about having enough money for a comfortable retirement decreased sharply, from 27 percent in 2007 to 18 percent in 2008 to 13 percent in 2009, the lowest since the question was first asked in the survey in 1993, and representing a 50 percent decline in worker confidence since 2007. There is still much work to do in properly educating America's youth on basic personal financial management skills.”