A Federal Reserve official warns that improving financial literacy among the yutes of America is “crucial.” I have always said that economics education in this country is so inept it’s scandalous. If it were even partially up to snuff, tax cuts wouldn’t even be arguable – and most of what is proposed by liberals would be laughed out of the room.
In the 2002 survey of hascrewel seniors, only 50.2% of the questions were answered correctly. Over 50% didn’t know the difference between an employee pension and Social Security. A vast majority of them think that the single best return on an investment is a U.S. savings bond. Meanwhile, these kids are carrying average credit card balances of $2,800! This is serious stuff, my friends. Our schools are not teaching.